First Look stems flow of 2nd-quarter red ink

Second-quarter revenue rose 121% to $9.8 million

HOLLYWOOD — Film distrib First Look Media, formerly Overseas Filmgroup, Wednesday posted a narrowed second-quarter loss of $673,000 amid a dramatic rise in revenue on richer income from foreign territories and improved TV sales.

The red ink in the latest quarter compared with almost $1.4 million in the same period a year ago.

Second-quarter revenue rose 121% to $9.8 million.

First Look, which has headquarters in L.A. and Gotham, secured a $7 million boost in its credit line with J.P. Morgan Chase in the second quarter, bringing its total to $40 million. Also, Germany’s Vereinsbank joined a syndication of lenders participating in the credit facility.

Specialty distrib recently unspooled laffer “Bread and Tulips” in limited theatrical release in the U.S. and has “Ed Gein,” based on the life of the Wisconsin serial killer, in video release.

It is also active in commercial production and Internet content creation.

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