Weeks before it merges with Liberty Media Group, post-production conglom Todd-AO reported higher second-quarter revenues Monday of $31 million and a net loss of $443,000.
For the same period ended Feb. 29, 1999, Todd-AO posted revs of $28.4 million and net income of $897,000.
Todd-AO attributed the loss to expenses incurred with the Liberty Media takeover, increased financing costs and decreased activity in its Los Angeles sound studios.
Liberty Media is in the midst of acquiring post houses Todd-AO, Four Media Co. and Soundelux. It closed its deal with 4MC earlier this month for $325.8 million.