Todd-AO nets 23% bump over last year

Todd-AO reported net income for the year was $6 million, up 23.7% over last year, on revenues of $79 million, ahead 25.5%. Earnings per share were 60¢, an 8.2% jump.

For the fourth quarter ended Aug. 31, net income was $816,000 (8¢ per share), up 4.2% from the same period last year, while revenues were $19.6 million, a 33% increase.

The company noted that the per-share jump was despite the diluting effect of increased average outstanding shares due to a November 1996 stock offering of 1.65 million shares.

In touting the results, Todd-AO president and CEO Salah Hassanein pointed to the bottom-line positive effect of the recent purchases of Hollywood Digital and Editworks.

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