Showscan Corp. announced that revenues for the first quarter ended June 30, 1993, were $ 716,000, with a net loss of $ 2.5 million, or 53 cents per share. Revenue for the first quarter of the previous year was $ 2.1 million with a net loss of $ 587,000 (13 cents).
Just a few months after announcing plans for a cable shopping network, R.H. Macy & Co. has decided to launch an internal video network. Macy’s chairman/CEO Myron E. Ullman III addressed managers and sales personnel in a satellite hookup with 123 stores in the first broadcast; Macy expects to have more than 300 programs a year. The network will provide more than 60,000 employees with info on new products, consumer promotions and training, and include two-way audio service.
Live Entertainment in Canada posted its six-month results, with revenues of $ C58.4 million ($ 44.4 million) and net income of $ C2.6 million ($ 1.97 million). There were 7,140,672 average shares outstanding. Year-to-year comparisons are unavailable since the company wasn’t public a year ago.
Graff Pay-Per-View Inc. has formed the Graff Marketing Corp., a unit that will produce and distribute interactive programming with “direct marketing elements.” Programs and special events in pre-production include CD-ROM interactive projects. Graff Marketing’s first program will be “Hot Properties,” an entertainment news series marketing specialized products related to the entertainment industry, which has been syndicated through a joint venture with Spelling Entertainment Inc. unit Worldvision Enterprises.
Kidder, Peabody & Co. analyst Alan Gould upgraded Falcon Cable Systems Co. to “strong buy” from “neutral” and Jones Intercable Investors L.P. to “outperform” from “neutral.” Further details aren’t immediately available.
In September, Dow Jones launches a video business news service to be delivered to customers’ desktop computer terminals. Dow Jones Investor Network will provide comprehensive coverage of major breaking corporate announcements, press conferences and other programming.
Hewlett-Packard Co. reported that its third-quarter net earnings increased 44 % to $ 271 million ($ 1.06 per share), up from 75 cents a share a year ago. The third-quarter increase followed the second-quarter report in May that saw earnings reach $ 347 million, or $ 1.38 a share. Second quarter earnings report was the first $ 5 billion quarter in HP history. Net revenue for the third quarter grew 23% and orders rose 19% compared with last year.