Indie film distrib Trimark Holdings (“Romance”) saw a net loss of $5 million for the year ended June 30 despite a 15% surge in revenues to $92 million, the company reported Monday.
Marina del Rey-based Trimark also posted a net loss of $5 million the previous year on revs of $80 million, taking a hit from writedowns on several poor-performing pics with wide theatrical releases.
Chairman and CEO Mark Amin said a new business plan has helped the company as revenues from homevid, TV and international sales have surged.
“Revenues are up significantly, operating expenditures are down and debt has decreased by 30% in the last nine months of the calendar year,” Amin said.
Domestic homevid sell-through revenues increased $10 million to $58 million. Trimark released 55 motion pictures on DVD, compared to five in fiscal 1998 — all from Trimark’s 600 title library.
Revenues from its TV arm increased 24% to $3 million, primarily due to the release of its first network telepic, “The Simple Life of Noah Dearborn,” starring Sidney Poitier and Dianne Wiest.
International sales increased 51% to $6 million, reflecting a revised business plan which now has Trimark focusing on the production and acquisition of films with international appeal. “Cube” and “King Cobra” proved successful.
Under the new strategy, Trimark limits prints and ad expenditures on theatrical releases by focusing on specialized pics and testing them in selected markets to gauge commercial potential.
Trimark Pictures recently released French pic “Romance” and “Better Than Chocolate.” It’s readying to bow comedy “Held Up,” as well as “Joe the King,” starring Val Kilmer, John Leguizamo and Ethan Hawke. Company recently wrapped “Skipped Parts,” with Jennifer Jason Leigh and Brad Renfro.
Trimark Home Video is producing a DVD for Oliver Stone’s “Natural Born Killers: The Director’s Cut,” to include more than 60 minutes of additional footage.