'Lost World' helps net numbers rise 30% to $2.1 mil
MONTREAL — Canadian TV producer Telescene Film Group reported strong growth in net earnings and revenue for the third quarter and first nine months of the year. The increases were spurred by strong sales for its recent TV properties, notably the series “Sir Arthur Conan Doyle’s The Lost World,” which made its bow on DirecTV and is currently in syndication in the U.S. via New Line Television.
For the third quarter ended Nov. 30, Montreal-based Telescene had net earnings of C$3 million ($2.1 million), up 30% from $1.6 million a year earlier. Earnings per share were 21¢, compared with 16¢ per share last year. Revenues for the three-month period were $16.8 million, up 19% from $14 million in the same period the previous year. Library revenue for the quarter was $4.4 million, compared with $1 million in the third quarter last year.
For the nine-month period, Telescene had net earnings of $3.3 million, up 38% from $2.4 million for the first nine months last year. Earnings per share for the nine months were 33¢, up from 26¢ share the previous year. Revenues for the nine months were $32.8 million, compared with $22.7 million a year earlier.