Intl. Family Entertainment Inc. posted net income of $ 5.3 million for the second quarter ended June 30, a 6% increase over the year-ago period’s $ 5 million.
Revenues for the owner of the Family Channel basic cable service increased 37 % for the quarter to $ 43.9 million from $ 32.1 million for the second quarter of 1992.
With an increase in fully diluted shares outstanding of 23%, due primarily to IFE’s acquisition of MTM Entertainment in the first quarter of 1993, fully diluted earnings per share were 15 cents for the quarter just ended compared with 19 cents for the same quarter the prior year.
For the first six months of 1993, revenues increased 35% to $ 87 million from $ 64.5 million for the first half of 1992. Net income improved 34% to $ 12.7 million from $ 9.4 million.
Fully diluted earnings per share for the first six months of 1993 were 36 cents vs. 39 cents for the comparable period for 1992.