Internationalmedia’s back in black

Positive result stems from start of prod'n on new pics

BERLIN — While Internationalmedia’s first-quarter revenue plunged 74% to E8 million ($10.4 million), the company was back in the black with a net profit of $1.8 million vs. a $5.4 million loss a year earlier, the film group said Wednesday.

Positive result stems from the start of production on new films, which have generated financing fees.

In addition, quarterly overhead fell 18% to under $3.6 million and writedowns on film development totaled just under $2.2 million compared with $5.6 million in 2004.

Martin Schuermann replaced Moritz Borman as CEO in April; Borman will continue to develop projects for the company.

Internationalmedia is producing “Basic Instinct 2: Risk Addiction” and Robin Williams starrer “RV.”

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