Ending a “tough fiscal year,” struggling post-production house Netter Digital Entertainment on Friday posted a fourth quarter loss of $986,000 on revenues of $3.4 million.
The North Hollywood, Calif.-based company in 1998 reported profits of $229,000 on revenues of $8.2 million, for the same period ended June 30.
Netter Digital chairman and CEO Douglas Netter projected that the company would “enter the new fiscal year a stronger, better company with a solid book of new business and many exciting opportunities for renewed growth.”
The company recently inked an $8 million deal to produce a computer-animated TV series for a U.K. company based on a popular comic book character.
Netter Digital also said Friday it will sell its discontinued Videssence subsidiary before the end of the year. Division makes lighting products that require less electricity and emit less heat than standard production studio incandescent lights.
Netter Digital produces computer-generated animation and f/x for the television, film and vidgame industries. The company produced “Babylon 5” and “Crusade” for Warner Bros. and Turner Network TV. It also produces the 3D animated series “Voltron: The Third Dimension” for World Events Inc.