Alliance Communications Corporation Announces Fiscal 98 First Quarter ResultsTORONTO Toronto (tərŏn`tō), city (1998 est pop. 2,400,000), provincial capital, S Ont., Canada, on Lake Ontario. Toronto is the largest city in Canada and since the 1970s has been one of the fastest-changing cities in North America, experiencing , Aug. 25 /PRNewswire/ -- Alliance Communications Corporation (Nasdaq: ALLIF; Toronto, Montreal Montreal (mŏn'trēôl`), Fr. Montréal (môNrāäl`), city (1991 pop. 1,017,666), S Que., Canada, on Montreal island, surrounded by St. Lawrence River and Rivière des Prairies. : AAC.A, AAC.B) today announced financial results for the three months ended June 30, 1997. All currency amounts are in Canadian Canadian (kənā`dēən), river, 906 mi (1,458 km) long, rising in NE New Mexico. and flowing E across N Texas and central Oklahoma into the Arkansas River in E Oklahoma. dollars.
Consolidated revenues for the first quarter of 1998 were $66,556,000 compared to $63,517,000 reported in the same period last year. Net earnings and earnings per common share for the quarter were $7,795,000 and $0.59 respectively ($4,777,000 and $0.36 excluding the gain on sale of investment), compared to $955,000 and $0.10 reported in last year's fiscal first quarter.
Overall gross margins increased from 19.5% of gross revenue or $12.4 million, in the first quarter of fiscal 1997 to 28% of revenue, or $18.6 million this year. Gross Margin from our core production, distribution and broadcasting businesses increased from 18.8% last year, or $11.7 million to 25.7%, or $15.4 million this year.
Alliance Motion Pictures posted a 27.8% increase in year over year revenue of $41,804,000 from $32,700,000 reported in last year's first quarter. The improved returns are attributable in part to strong international sales which, in addition to The Sweet Hereafter In the future.
The term hereafter is always used to indicate a future time—to the exclusion of both the past and present—in legal documents, statutes, and other similar papers. , were achieved by another film from our Alliance Independent Films label, the Sundance Sundance is a popular ski resort located near Provo, Utah. It was bought by the actor Robert Redford in 1968. Redford's wife was from Utah and they had built a home in the area five years earlier. Festival award winner, In The Company of Men. Alliance Releasing added to the division's strong performance in the quarter with films such as Austin Austin.
1 City (1990 pop. 21,907), seat of Mower co., SE Minn., on the Cedar River, near the Iowa line; inc. 1868. The commercial and industrial center of a rich farm region, it is noted as home to the Hormel meatpacking company, whose Spam Town museum Powers, The English 1. English - (Obsolete) The source code for a program, which may be in any language, as opposed to the linkable or executable binary produced from it by a compiler. The idea behind the term is that to a real hacker, a program written in his favourite programming language is Patient, and Shine.
Lower revenues in Alliance Television in the first quarter of 1998 of $11,635,000 compared to $21,738,000 in the first quarter of 1997 were due primarily to decreased production revenues. In the first quarter of the prior year, eight hours were delivered compared to 10.5 hours in the current quarter; however, the prior year's results reflected the premium budgets of two pilots, including the two hour Once A Thief THIEF, crimes. One who has been guilty of larceny or theft. , resulting in higher revenues in the division.
Revenues for Alliance Equicap increased quarter over quarter, to $6,599,000 from $1,375,000 last year, when sales were lower due to uncertainties at that time regarding the marketability of tax shelters. Of revenues, $452,000 was generated by Equicap Financial Corporation, which did not complete it's first transaction until the third quarter in the prior year.
Alliance Broadcasting recorded increased revenues of $5,636,000 compared to $4,686,000. This strong performance reflects growth in both advertising and subscriber revenues.
Alliance Multimedia posted revenues of $882,000 down from $3,018,000 reported in last year's first quarter. The decrease in revenues was due to lower revenues in the animation production division, where five episodes of Beast Wars Beast Wars: Transformers (Beasties on YTV) is a Transformers toyline released by Hasbro between 1995 and 1999. The toys spawned a full-CG animated series set in the "original" Transformers universe, produced by Mainframe Entertainment of Canada. were delivered in the first quarter in the prior year compared to one episode of Captain Star delivered in the current quarter.
Alliance Communications Corporation is an international, integrated entertainment company with five operating units which include Alliance Motion Pictures, Alliance Television, Alliance Broadcasting, Alliance Multimedia and Alliance Equicap with headquarters in Toronto and offices in Montreal, Vancouver Vancouver, city, Canada
Vancouver, city (1991 pop. 471,844), SW British Columbia, Canada, on Burrard Inlet of the Strait of Georgia, opposite Vancouver Island and just N of the Wash. border. , Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. , Paris and Shannon Shannon, principal river of the Republic of Ireland and longest (c.240 mi/390 km) in the British Isles. It rises near Cuilcagh Mt., NW Co. Cavan, and flows S through the Central Plain into Co. Limerick, where it turns west in a broad estuary (c. . Shares trade in Toronto and Montreal (AAC.A, AAC.B) and on Nasdaq (ALLIF).
ALLIANCE COMMUNICATIONS CORPORATION CONSOLIDATED BALANCE SHEETS As at June 30, 1997 and March 31, 1997 (In thousands of Canadian dollars) As at As at June 30, 1997 Mar. 31, 1997 (Unaudited)
Cash and short-term investments $5,679 $10,777 Accounts receivable 210,279 167,739
Investment in film and television programs
and program rights 186,371 149,410 Property and equipment 10,394 10,314 Other assets 16,779 15,482 Total $429,502 $353,722
Operating loan and bank indebtedness $44,513 $3,361 Accounts payable and accrued liabilities 104,675 109,491 Income taxes 14,541 10,927 Deferred revenue 90,824 62,980 Convertible debenture 16,500 16,500 Minority interest 45 39 Total 271,098 203,298
Capital stock 89,021 88,836 Retained earnings 69,383 61,588 Total 158,404 150,424 Total $429,502 $353,722 ALLIANCE COMMUNICATIONS CORPORATION CONSOLIDATED STATEMENTS OF EARNINGS For the Three Months Ended June 30, 1997 and June 30, 1996
(in thousands of Canadian dollars, except per share information)
Unaudited Three Months Three Months Ended Ended June 30, 1997 June 30, 1996
Alliance Television $11,635 $21,738 Alliance Motion Pictures 41,804 32,700 Alliance Equicap 6,599 1,375 Alliance Broadcasting 5,636 4,686 Alliance Multimedia 882 3,018 Total revenues 66,556 63,517
DIRECT OPERATING EXPENSES Operating expenses
The amount paid for asset maintenance or the cost of doing business, excluding depreciation. Earnings are distributed after operating expenses are deducted.
Alliance Television 10,062 17,594 Alliance Motion Pictures 30,872 27,998 Alliance Equicap 3,414 655 Alliance Broadcasting 2,908 2,412 Alliance Multimedia 687 2,454 Total direct operating expenses47,943 51,113
Alliance Television 1,573 4,144 Alliance Motion Pictures 10,932 4,702 Alliance Equicap 3,185 720 Alliance Broadcasting 2,728 2,274 Alliance Multimedia 195 564 Total gross profit 18,613 12,404
Other operating expenses 9,677 9,378 Amortization 1,597 1,104 Interest 458 470 Minority interest 6 45 Total 11,738 10,997 EARNINGS BEFORE UNDERNOTED 6,875 1,407 GAIN ON SALE OF INVESTMENT 4,535 0 EARNINGS BEFORE INCOME TAXES 11,410 1,407 PROVISION FOR INCOME TAXES 3,615 452 NET EARNINGS FOR THE PERIOD 7795 $955 EARNINGS PER COMMON SHARE 0.59 $0.10 ALLIANCE COMMUNICATIONS CORPORATION CONSOLIDATED STATEMENTS OF CHANGES IN FINANCIAL POSITION For the Three Months Ended June 30, 1997 and June 30, 1996 (in thousands of Canadian dollars) Unaudited Three Months Three Months Ended Ended June 30, 1997 June 30, 1996
CASH PROVIDED BY (USED IN):
Net earnings for the period $7,795 $955
Items not affecting cash:
Amortization of investment in film
and television programs 41,621 48,044
Amortization of program
exhibition rights 2,638 2,280
Amortization of development costs
and investment in scripts 750 450
Amortization of property and equipment
and pre-operating costs 703 579
Amortization of broadcast
licenses and goodwill 144 75 Gain on sale of investment (4,535) 0 Minority interest 6 45 Deferred income taxes 233 452
Net changes in other non-cash
balances related to operations(13,482) (16,751) Total 35,873 36,129
Investment in film and
television programs (50,889) (44,792)
Film and television programs
in progress (27,227) 7,915 Program exhibition rights (1,095) (1,421)
Development costs and
investment in scripts (2,759) (546)
Net additions to property
and equipment (634) (1,344)
Net proceeds Net Proceeds
The amount received after all costs are deducted from the sale of a piece of property or security.
In the case of an investor selling a security, net proceeds represent the proceeds from the sale minus any trading costs (i.e. commissions). from sale of
investment 4,594 0 Total (78,010) (40,188)
Operating loan and bank
indebtedness 41,152 13,180
Decrease (increase) in
loans receivable (4,298) 0
Increase (decrease) in
loans payable 0 85 Issue of common shares 185 3 37,039 13,268
INCREASE (DECREASE) IN CASH
AND SHORT-TERM INVESTMENTS (5,098) 9,209
CASH AND SHORT-TERM INVESTMENTS,
BEGINNING OF THE PERIOD 10,777 5,090
CASH AND SHORT-TERM INVESTMENTS,
END OF THE PERIOD $5,679 $14,299
SOURCE Alliance Communications Corporation
/CONTACT: George Burger, Executive Vice President of Alliance Communications Corp., 416-967-1174; or Andrea Kaimowitz or Press: Miriam Adler, 212-850-5600, or Karen Goulet - Toronto, 416-777-6711, all of Morgen- Walke Associates/
CO: Alliance Communications Corporation ST: Ontario IN: ENT ENT ears, nose, and throat (otorhinolaryngology).
ear, nose, and throat
ear, nose and throat.
ENT Ears, nose & throat; formally, otorhinolaryngology SU: ERN
LH -- NYM Nym
humorous thief and rogue. [Br. Lit.: Merry Wives of Windsor; Henry V]
See : Thievery
1. (tool, networking) nym - /nim/ (From the third syllable of "anonymous"; or "nym server") A server that functions as an anonymous remailer.
2. 086 -- 0893 08/25/97 15:22 EDT EDT
Eastern Daylight Time
EDT Eastern Daylight Time
EDT n abbr (US) (= Eastern Daylight Time) → hora de verano de Nueva York