Live Entertainment Reports Small Profit
- Share via
Troubled videocassette distributor Live Entertainment Inc. managed a small profit in the third quarter, thanks in part to sales of “Terminator 2: Judgment Day” and “Basic Instinct” on home video.
Van Nuys-based Live earned $1.08 million in the three months that ended Sept. 30, in contrast with a year-earlier loss of $40.5 million. Its revenue increased 6%, to $91.2 million from $85.7 million.
In its latest nine-month period, Live lost $13.6 million, compared to a $99.8-million loss a year before. Its revenue totaled $201.8 million, a 16% decline from $238.9 million.
The company also said it was helped by sales of its “Christmas Classics” series of video titles, the settlement of a distribution dispute, higher sales at its retail division and lower expenses.
Live is 49.9% owned by Carolco Pictures Inc., a financially ailing movie production company based in Los Angeles.
The biggest entertainment stories
Get our big stories about Hollywood, film, television, music, arts, culture and more right in your inbox as soon as they publish.
You may occasionally receive promotional content from the Los Angeles Times.
