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ALL AMERICAN COMMUNICATIONS REPORTS FIRST QUARTER RESULTS.

SANTA MONICA, Calif.--(BUSINESS WIRE)--May 15, 1995--All American Communications, Inc. (NASDAQ: AACI) today reported results for the first quarter ended March 31, 1995.

Revenues in the first quarter of 1995 increased 85% to $36,962,000, a record first quarter level, compared to revenues of $20,002,000 in the year-ago quarter. The increase was due primarily to the inclusion of revenues from the Company's All American Fremantle International (AAFI) subsidiary, acquired in August 1994, after giving effect to decreases in domestic television and recorded music revenues resulting from the timing of delivery or release of television and music product.

The decrease in domestic television revenues was primarily the result of no Baywatch episodes being delivered in the first quarter of 1995, compared to six episodes delivered a year ago, due to the early completion of 1994/95 Baywatch production in 1994. Recorded music revenues for the first quarter of 1995 were reduced primarily because of delays in the release of new albums, offsetting an improvement in catalog sales over the prior year.

Operating income before amortization of goodwill rose 13% to $1,281,000 versus $1,130,000 a year ago, reflecting improvements in the Company's television operations. Amortization of goodwill was $540,000 in the first quarter of 1995, compared to $23,000 in 1994, reflecting the impact of the AAFI acquisition. Net interest expense in the first quarter increased to $2,365,000 from $1,101,000 in the year-ago period due to higher average borrowings in connection with the Company's expanding television operations and the Fremantle International acquisition.

For the 1995 first quarter, the Company reported a net loss of ($895,000), or ($0.11) per share, compared to net income of $31,000, or $0.01 per share, in 1994. The weighted average number of shares outstanding in the 1995 and 1994 first quarter periods was 8,006,000 and 5,002,000, respectively. The increase reflects the August 1994 issuance of securities to The Interpublic Group of Companies in connection with All American's acquisition of certain assets and securities of Fremantle International.

All American Communications will commence production of a total of 44 one-hour episodes of Baywatch and Baywatch Nights in 1995, representing the Company's largest-scale production effort to date. The Company commenced production of Baywatch Nights in the first quarter of 1995, and Baywatch is scheduled to commence production in June.

Anthony J. Scotti, Chairman and Chief Executive Officer, stated, "The first and second quarters are seasonally the slowest periods in our business and do not reflect the progress we are making in the development of our expanded slate of programming for the 1995/96 television season. Episodes from this year's production and the strip syndication of Baywatch will commence broadcasting primarily in the second half of the year. The acquisition of All American Fremantle International made a significant contribution to the Company's operating results for the quarter. Overall, our first quarter performance was ahead of plan.

"To finance our growing level of television production and distribution activity, in April we completed a $110 million, four-year syndicated senior credit facility led by Chemical Bank. In addition to production financing, the facility provides a significantly increased working capital tranche to fund our growth."

All American Communications is a diversified entertainment company with operations in television and recorded music production and distribution, and produces over 100 shows in 27 countries around the world. -0-
 ALL AMERICAN COMMUNICATIONS, INC.
 Consolidated Statements of Operations
 (In thousands, except per share data)
 (Unaudited)


 Three Months Ended March 31,
 1995 1994


Revenues $ 36,962 $ 20,002


Operating income (loss) 741 1,107


Other income 81 42


Interest expense, net 2,365 1,101


Income (loss) before income taxes (1,543) 48


Provision for (benefit from)
 income taxes (648) 17


Net income (loss) $ (895) $ 31


Net income (loss) per share $ (0.11) $ 0.01


Weighted average number of
 common shares outstanding 8,006 5,002




CONTACT: Thomas Bradshaw

Chief Financial Officer

310/450-3193

or

Joseph N. Jaffoni

David C. Collins

Jaffoni & Collins Incorporated

212/505-3015
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No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1995, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Publication:Business Wire
Date:May 15, 1995
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