You will be redirected back to your article in seconds

Thompson trips on tech

Components, consumer division show steep drops

French equipment and film services company Thomson saw revenues plunge 12% in the first quarter, despite big gains in its divisions that deal with Hollywood studios and broadcasters.

The company — whose assets include Technicolor, Grass Valley and RCA — saw overall quarterly revenues drop from $2.16 billion in 2002 to $2.06 billion in the first quarter of 2003.

The company saw huge drops in revenues for its components division (down 39.7% to $281 million) and consumer products (down 20% to $775 million).

Thomson blamed weak consumer confidence in a poor economy for part of the downturn, as well as slow sales of broadcast equipment ahead of last week’s NAB convention, where many companies go window-shopping before putting in equipment orders this quarter.

The company did see big growth in its operations that replicate films, DVD and VHS tapes and provide distribution and post-production services. DVD growth also is making up for the continuing decline in the VHS business. New post-production deals with Universal and DreamWorks should further boost the division’s numbers, the company said.

The company also saw licensing revenues jump 13.5%.

Thomson said it expects to see second-quarter revenues flatten out compared with last year, to between $2.28 billion and $2.50 billion, helped in part by some new contracts and a recovering economy as uncertainties related to the U.S. invasion of Iraq ease.

More Scene

  • Dan Stevens

    'Legion' Star Dan Stevens Says His Character Would Fight Thanos, 'Wreak Havoc' in MCU

    Dan Stevens said his powerful, telepathic mutant Legion would do some serious damage if he ever crossed over from the eponymous FX series into the Marvel Cinematic Universe. “Legion would wreak havoc. He’d probably take on Thanos, let’s see that,” he told Variety on the red carpet at the premiere of the trippy, mind-bending superhero series [...]

  • Anthony Anderson LADF

    Why Anthony Anderson and Billie Jean King are Giving Back with the Dodgers Foundation

    Celebrities and athletes came together at the Dodgers Foundation Blue Diamond Gala to celebrate the team’s commitment to supporting youth and to catch a glimpse of the event’s headliner: Bruno Mars. Billie Jean King and Ilana Kloss were honored at the fifth annual event, which raised over $3 million for programs benefiting Los Angeles youth. [...]

  • Shia LaBeouf poses at the premiere

    Shia LaBeouf to Host Birthday Fundraiser for Slauson Rec. Theater Company

    Shia LaBeouf is celebrating his 33rd birthday by giving back. The actor, who turned 33 on June 11, will host a fundraising concert later this month for the Slauson Rec Theater Company, a 10-month-old free performing arts program he co-founded in downtown Los Angeles. The night will also include a preview of the Slauson Rec [...]

  • Awkwafina, Lulu Wang Celebrate New York

    Awkwafina Wants 'The Farewell' to Break Boundaries of Cultural Differences

    Family dysfunction is universal despite cultural differences. That’s what writer and director Lulu Wang wants audiences to take away from her film “The Farewell” starring Awkwafina. “This movie will teach us universality out of specificity. There’s something that we can all kind of relate to across cultures. There’s something we still have to learn about [...]

  • Elizabeth Debicki

    Elizabeth Debicki Talks About Being Supported by Other Women in Hollywood

    Elizabeth Debicki is looking to the future — which makes sense, since she was named Women in Film and Max Mara’s “Face of the Future” for 2019. “No pressure,” Debicki laughed when Variety asked the actress about the honor on the red carpet. “It means a great deal. I have always deeply respected the work [...]

  • Carla Gugino Jett

    How Carla Gugino Is Redefining the Anti-Hero in Cinemax's Crime Drama 'Jett'

    “This is like no character I’ve ever played,” Carla Gugino told Variety on the red carpet at the premiere of Cinemax’s “Jett” on Tuesday night. “I think television is filled with great roles for women, which is such a godsend these days. But the anti-hero — there’s still a double standard there.” In the new series, Gugino [...]

More From Our Brands

Access exclusive content