Camera and lighting rental sections show growth
HOLLYWOOD — Panavision last week reported a 2.6% boost in first-quarter revenues to $48.2 million, while net losses grew to $7.5 million from $5.9 million during the same period a year ago.
The Woodland Hills, Calif.-based company said revs increased in the camera and lighting rental segments, for the period ended March 31, with the latter rising nearly 11%.
“For over a year, our revenue growth has been constrained by declines in feature film starts,” said John Farrand, prexy and CEO of Panavision. “In the first quarter, major feature film starts showed a modest year-to-year improvement, while independent feature film starts were down sharply.”