J2 Communications posted a net loss of $ 905,000 (28 cents a share) for the third fiscal quarter ended April 30. That compares to a net loss of $ 279,000 (9 cents) in the same period last year. The company said the results include a one-time charge for establishing a reserve in connection to settlement of certain legal actions and inventory write-downs associated with video operations.
TCA Cable TV Inc. reported a 32.7% increase in net income of $ 5 million (21 cents per share), in the second fiscal quarter ended April 30, vs. a net profit of $ 3.8 million (16 cents) in the same period last year. Revenues were up 9.5% to $ 37.8 million for the quarter, compared to $ 34.6 million last year.
The Hollywood section of the Society of Motion Picture & Television Engineers will meet Wednesday to review Fox News’ restoration project of the Movietone News Library. Call the SMPTE hotline, (818) 997-0935, for details.
Prism Entertainment Corp. posted a net income of $ 191,000 (9 cents a share) for the second fiscal quarter, ended April 30. That compares to a net profit of $ 329,000 (16 cents) in the same quarter last year. Revenues were down 12% to $ 4.37 million from the comparable period. Earnings were affected by a one-time pre-tax charge of $ 160,000 for increasing the company’s reserve for returns.
A joint venture between a Time Warner Inc. unit and a Nichii Co. unit opened its first multiscreen theater in Ebina, Japan. Time Warner said the venture, called Warner-Mycal, “relies on glamour and convenient locations to attract Japanese audiences.”
Five of Europe’s largest theme parks said they are teaming up to offset intense competition from Walt Disney Co.’s EuroDisney. The parks will offer visitors discount coupons for use at the other four parks, and intensify efforts to ensure that travel agents do not overpromote EuroDisney. Together, the five parks drew 9.8 million visitors in 1992, compared with the 11 million who visited EuroDisney in its first 12 months since opening in April 1992.