Sees 23% improvement for period ending Feb. 28
TORONTO — Vidatron Entertainment saw a 23% improvement in revenues for the first six fiscal months of 1998 despite a soft first quarter.
Revenue of C$16.2 million ($11.3 million) for the period ending Feb. 28 topped the $9.1 million for the corresponding period in 1997. But revenues for the quarter were $4.7 million, a 16% drop from the $5.7 million in the same quarter a year ago.
Producers in British Columbia who wish to take advantage of the province’s tax credit must begin shooting after April 1. As a result, the numbers for the first part of the fiscal year don’t look rosy.
Net earnings for the six months were $482,000, or 8¢ per share, half of the previous year’s earnings of $908,000, or 20¢.
Earnings for the quarter were no better, at $162,000, or 3¢ per share, compared with $522,000, or 10¢ per share for the same period last year.
Vancouver-based Vidatron Entertainment Group develops, finances and produces feature films and TV shows for worldwide distribution. The company’s two current productions are “Dead Man’s Gun” and “First Wave.”