Animation studio Film Roman, which recently announced the shuttering of its live-action division, on Monday said restructuring costs sent the North Hollywood-based company deeper into the red in the second quarter.
Film Roman posted a $1.3 million loss in the latest period, compared with $800,260 in red ink in the same period last year.
Revenue rose 19% to $9.4 million, lifted by delivery of a direct-to-video title. Another proprietary project, the film short “Hairballs,” is being developed into an animated series with MTV.
Company is best known for work-for-hire TV tooners including Fox’s long-running “The Simpsons.”
“With the projects we currently have in production and the various deals we now have in negotiation, we will have an extremely busy second half of this year and an equally big year next year,” CEO John Hyde said. “By increasing our base of both the proprietary and for-hire work, we expect the next 18 months to be the best in the company’s history.”