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Iwerks rides revenue wave

Large format/ride simulation co. boasts 44% rise in 2nd qtr.

Iwerks Entertainment reported a 44% boost in second-quarter revenues of $8.6 million in 1998, compared with $5.9 million a year ago.

The Burbank, Calif.-based large-format and ride-simulation company also posted a net loss of $821,000, for the period ended Dec. 31, compared with a loss of $3.5 million in 1997.

Iwerks said the positive results reflect significant improvement in hardware sales, particularly in Asian markets, and upgrades to 2-D attractions at Six Flags theme parks as well as a decrease in operating expenses.

Shares of Iwerks remained flat on Friday, staying at $0.94.

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