German stock exchange to give co. six-week extension
LONDON — German distrib Helkon Media said Wednesday that it will not meet its predicted revenue and profit figures for fiscal 2001, which ended July 31.
According to preliminary figures issued Wednesday, company fell short of its estimated DM318 million ($148 million) sales and $21 million cash-flow figures, making $112 million and $12 million, respectively. Company had projected the figures in September 2000.
Helkon blamed the postponed release of John McTiernan’s “Rollerball” back to February as well as daughter companies Newmarket Capital and Helkon International Pictures delaying results.
Helkon has been given a six-week extension from the German stock exchange to present its final results by Dec. 12. Shares in Helkon were down 35% late Wednesday at $1.75.