Indie film distrib Overseas Filmgroup Inc. reported 22% higher earnings of $434,940 in the third quarter, it said Friday, on 22% higher revenues of $6.08 million. OFG said the higher revenue mainly was due to “increased sales of older titles,” including TV rights, as well as higher U.S. pay TV revenues. OFG said it was negotiating to extend its credit line beyond the Nov. 30 expiration date. The company also wants to restructure the bank line “to address anticipated needs for additional liquidity.” OFG stock fell 3¢ Friday, to close at $2.
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Clearview Cinema Group Inc., the newly public exhib that has been buying up theaters in the New York metropolitan area, reported a sharply higher net loss Friday of $417,457 in the third quarter. Clearview said its revenues rose 51%, to $4.4 million, in the quarter and earnings before interest, taxes, depreciation and amortization rose 76%, to $676,800. Clearview stock fell 37¢ Friday, to close at $12.