Livent profits up in 1st quarter

TORONTO — Livent Inc., the Toronto-based live theater producer, earned more profit on less revenue in the first quarter.

The company said Wednesday that profit in the three months ended March 31 reached C$4.3 million ($3.1 million), up from C$1.7 million ($1.2 million) a year earlier. The gain is largely the result of a decline in operating costs. Revenue slipped to C$72.1 million ($52.8 million) from C$74 million ($53.2 million).

Three companies of “Show Boat” will play 18 North American cities this year, compared to five cities in 1996, the company said. A second company of “Ragtime” opens in Los Angeles at the end of the month; the first opened in Toronto in November.

Last week, Livent completed a public offering in Canada of 2 million common shares at C$13.75 a share to net proceeds of C$26.4 million ($19 million).

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