Devine Entertainment Reports First Half Results.TORONTO--(BUSINESS WIRE)--Aug. 27, 1999-- Devine Devine can refer to: People
TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). : DVN DVN Digital Video Network (Internet2) DVN Digital Value Network DVN Diploma in Veterinary Nursing DVN Device Number ) today announced that revenues for the first six months ended June 30, 1999 amounted to CDN (Content Delivery Network) A system of distributed content on a large intranet or the public Internet in which copies of content are replicated and cached throughout the network. $613,647 as compared to the CDN $834,013 recorded for the 1998 first half. Net income for the first six months of 1999 amounted to CDN $280 as compared to net income of CDN $51,608, or CDN $0.005 per share, for the first six months of 1998. The Company noted that revenues for the period were as expected since no films were delivered in the second quarter. The majority of revenue in this period resulted from foreign sales of the Company's three series. The major portion of Devine's revenue sources traditionally stem from the delivery of its films. Principal photography was completed on time and on budget for the last three films in the Company's Artists' Specials. These films are scheduled for delivery to HBO Hyperbaric oxygen therapy (HBO) A form of oxygen therapy in which the patient breathes oxygen in a pressurized chamber. Mentioned in: Ozone Therapy and other broadcasters in the second half of 1999. The Company expects a significant increase in revenues for the second half of 1999 as compared to the same period last year as revenue is recognized on the delivery of these films. In the last six weeks, The Company has announced several new distribution and program license agreements with anticipated total revenues of close to CDN $1,000,000. More information on the Company's activities is available on the Company's website: www.devine-ent.com. The Company's new interactive, educational history timeline
Timeline may refer to:
The Toronto Stock Exchange Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. has neither approved nor disapproved of the information contained herein. -0-
DEVINE ENTERTAINMENT CORPORATION
CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited)
(in Canadian dollars)
Six months ended June 30
1999 1998
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REVENUE $613,647 $834,013
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INCOME BEFORE INCOME TAXES 500 92,608
NET INCOME 280 51,608
NET INCOME PER COMMON SHARE $ -- $ 0.005
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