×
You will be redirected back to your article in seconds

Nelvana earnings animated

Third-quarter up 14%

TORONTO — Animation producer Nelvana posted its eighth consecutive quarter of earnings growth in the third quarter.

Earnings for the nine months ended Sept. 30 were C$5.0 million ($3.4 million), or 46¢ per share, up 14% from the same time last year. Revenues for the period were $32.1 million, up a hefty 31% from the first nine months of 1998.

For the third quarter, net earnings were $1.8 million, or 24¢ per share, up 12% from the previous year. Revenues during the quarter were $15.2 million, up 12% from the nine-month figure posted a year ago.

New divisions help

The increase was, in part, a reflection of gains in the recently acquired merchandising and publishing divisions. Merchandising revenue for the third quarter increased 39% to $1.2 million; publishing contributed $2.5 million.

The company received an additional boost from its 20% interest in Teletoon, which contributed $680,000 to the year-to-date bottom line, and experienced moderate gains in production and distribution revenues despite delivering fewer animated episodes in the quarter (37) than a year ago (43).

Nelvana has also begun production of “Maggie and the Ferocious Beast,” its newest book-based series for Nickelodeon Jr. and Teletoon.

The series is based on the books created by author Betty Paraskevas and her son, artist/illustrator Michael. “Maggie” is expected to debut on Nick Jr. next summer and on Teletoon in the fall.

The company also announced series renewals for “Rolie Polie Olie,” “Franklin,” “Little Bear” and “George and Martha.”

Toronto-based Nelvana also has production facilities in L.A., London, Paris, Tokyo and Shannon, Ireland.

More Biz

  • DOJ Indicts Five in Piracy Ring

    Department of Justice Indicts Five in International Piracy Ring

    Five men were indicted Wednesday on charges that they hacked into the servers of production companies, and stole hundreds of films and TV shows, including “50 Shades of Grey” and “The Walking Dead.” The men are based in four countries — the United Kingdom, the United Arab Emirates, Malaysia, and India. Only one has been [...]

  • Endeavor Sued Over Idaho Country Music

    Endeavor Sued Over Idaho Country Music Festival

    A former county official in rural Idaho sued Endeavor on Wednesday, alleging she is owed more than $190,000 in unpaid loans arising from a troubled country music festival. According to her complaint, Bonnie Layton was the economic development director for Elmore County, Idaho, when she came in contact with the organizers of the Mountain Home [...]

  • Former movie producer Harvey Weinstein (L)

    Weinstein Attorney: 'Many of These Women Have Lied'

    Harvey Weinstein’s attorney blasted the Manhattan D.A.’s office on Wednesday, arguing that prosecutors brought a flawed case in haste due to public pressure. Ben Brafman sent a letter to Judge James Burke, who is scheduled to hear a motion to dismiss the case next week. In it, he responded to Assistant D.A. Kevin Wilson, who [...]

  • 2019 Variety Predictions

    2019 Predictions: What's in Store for Film, TV and Music Next Year?

    It would be hard to top the drama of 2018. From media mega-mergers to the rise of Time’s Up, it was a year that had more than its fair share of twists and turns. Leslie Moonves resigned in disgrace, AT&T snapped up Time Warner, Disney inched closer to subsuming Fox and “Black Panther” shattered box [...]

  • Tencent Music Raises $1.1 Billion for

    Tencent Music Raises $1.1 Billion for IPO, Much Less Than Expected

    China-based music streaming company Tencent Music Entertainment Group said it raised nearly $1.1 billion in its U.S. initial public offering, according to Reuters. Earlier this year, the company was expected to be valued at as much as $30 billion and raise $4 billion for its IPO, but those estimates were slashed in September. The IPO [...]

  • Justin Tranter and Katie Vinten Partner

    Justin Tranter and Katie Vinten Partner With Warner Bros. for New Label

    As previously reported, hit songwriter Justin Tranter and Warner/Chappell Publishing’s Katie Vinten are launching a new label in partnership with Warner Bros. Records, the company announced officially today. In her new role, Vinten, most recently the company’s co-head of A&R, will also serve as an A&R Consultant to Warner Bros. Records and will continue with [...]

  • Ella Mai

    Ella Mai Signs Worldwide Deal With Sony/ATV Music Publishing

    Singer Ella Mai, who is enjoying a worldwide smash with her song “Boo’d Up” and was nominated for two Grammy Awards last week, has signed a worldwide deal with Sony/ATV Music Publishing. The song peaked at No. 5 on the Billboard Hot 100 and has been streamed more than 650 million times in the U.S. [...]

More From Our Brands

Access exclusive content