Cinar revenue on the rise

MONTREAL — Cinar Films reported record financial results for its second quarter and first six months of the fiscal year, it was announced Thursday by company president Ronald Weinberg.

Second-quarter revenue increased 36% to C$19.7 million ($14.3 million), up from C$14.5 million ($10.5 million) a year earlier. Net earnings during the three-month period ended May 31 were up 68%, to $2.2 million or 17¢ per share, compared with $1.3 million or 13¢ per share last year.

Revenue for the first six months was up to $27.2 million from $19.3 million for the first six months a year earlier. Net earnings for the six-month period were $4 million or 32¢ per share, up from $2.4 million or 24¢ per share the year before.

Cinar, which specializes in producing and distributing kids TV fare, delivered 89 new half-hours in the first six months of the year, bringing the company’s library to 1,071 half-hours.

In addition, Cinar delivered 10 half-hours of the new sci-fi comedy series “Dr. Xargle,” which will have its preem in the U.K. in the fall on the ITV Network.

Weinberg also announced Thursday that Andrew Porporino, formerly Cinar’s corporate comptroller, has been appointed VP of finance-production.

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