Pegasus Communications Corp. posted sharply higher revenues for the first quarter, driven by a tripling in its DBS business, but even greater gains in marketing outlays widened its net loss by 188% to $45.9 million.
Total revenues for the Bala Cynwyd, Pa., company rose 141% to $69.4 million. Pegasus’ DBS business posted a 234% sales gain to $58.3 million, its broadcast business rose 15% to $7.9 million, and its cable operations fell 30% to $3.1 million.
Pre-marketing cash flow rose 131% over the three divisions to $20.7 million. The gain didn’t come cheap, however, as Pegasus reported subscriber acquisition costs for its DBS division soared 404% to $21.1 million.
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A reconfigured Marvel Enterprises reported a net loss of $6.4 million for the quarter ended March 30, despite sharp gains in sales and operating income.
The net loss is attributable to common stock compared with a net income of $1.1 million in the year-earlier quarter, which ended before Toy Biz acquired Marvel Entertainment and renamed the combined entity Marvel Enterprises.
Sales ratcheted 76.5% to $75.3 million, boosted $15.3 million by the combined company’s licensing division and $10.4 million by its publishing arm. Sales of its Marvel’s Toy Biz division increased $6.9 million.
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Video store chain West Coast Entertainment Corp. said January quarter profits dipped to $774,000, compared with $1.6 million posted a year ago. The Philadelphia-based company also reported a loss of $4.2 million for the period, compared with a loss of $3.6 million last year.
Revenues decreased to $30 million from $37 million a year ago, due to 30 under-performing stores that were shuttered, said West Coast prexy and CEO Kyle Standley. West Coast operates 450 video stores throughout the U.S.
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Denver-based United Intl. Holdings, a minority partner in Chile’s VTR Hipercable, has bought the remaining 60% of the cable operator for $258 million.
VTR Hipercable has 390,000 subscribers and claims to be the only multisystem operator in Latin America offering same-wire cable-telephony services to the public. UIH purchased its stake from Quinenco, part of Chile’s giant Luksic Group, and U.S. telco SBC Intl.