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.

Want to read more articles like this one? SUBSCRIBE TO VARIETY TODAY.
Post A Comment 0

Leave a Reply

No Comments

Comments are moderated. They may be edited for clarity and reprinting in whole or in part in Variety publications.

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

More Film News from Variety

Loading