Firm making move into feature films
VANCOUVER — Mainframe Entertainment, Canada’s largest producer of computer-generated animation, has jumped firmly into the black with revenues of C$8.2 million ($5.4 million) after delivering 13 television episodes during its second quarter ending Sept. 30.
The deliveries included seven episodes of “Beast Machines” to Hasbro, part of a 26-episode commitment, and six episodes of “Weird-Ohs” to Fox Family Channel and EM.TV & Merchandising. Company said it will deliver a total of 52 episodes during fiscal 2000.
Mainframe reported revenues of $130,000 for the same period last year, when no deliveries were made. Net earnings for the quarter were $460,000, compared with a loss of $3.9 million for the same period a year ago.
During the quarter Mainframe completed a financial restructuring, with Imax Corp. investing $10.5 million in exchange for equity and convertible debt.
The firm is moving swiftly into feature films, company prexy Ian Pearson told Daily Variety. It will produce three features over the next five years in a joint venture with Imax, beginning with “Gulliver’s Travels,” which is now in pre-production.
Mainframe has been on the prowl for animators, poaching in California and picking up laid-off Disney artists in Vancouver and Toronto.
It is currently producing “Casper’s Scary Christmas” for release next year. Pic is the first all-CGI direct-to-video film based on the Casper the Friendly Ghost franchise, in partnership with Harvey Entertainment.