Printer Friendly

AMERICAN FILM TECHNOLOGIES INC. REPORTS PRELIMINARY UNAUDITED FINANCIAL RESULTS FOR FISCAL 1993

 LOS ANGELES, Sept. 27 /PRNewswire/ -- Reflecting lower revenues from its film coloring operations, American Film Technologies Inc. (NASDAQ: AFTI)today announced preliminary, unaudited financial results for fiscal 1993. The company expects to report a loss of approximately $3.4 million on revenues of $11.7 million for the year ended June 30, 1993. In fiscal 1992, the company had net income of $900,000 on revenues of $14.1 million. Fiscal 1993 film coloring revenues were approximately $2.9 million less than the prior year.
 The company added that audited financial results for fiscal 1993 are expected to be available shortly.
 American Film Technologies Inc. is headquartered in Los Angeles with offices in New York and production facilities in San Diego and Tijuana. The company produces integrated digital animation and special effects for television and feature films. Breakthrough projects include the first animated short subject film to be completed entirely on an all- digital computer system -- Gahan Wilson's "Diner" to be released by Fox Film Corp. Founded in 1985, AFTI is also the dominant supplier of film coloring services to the entertainment industry.
 -0- 9/27/93
 /CONTACT: Arthur P. Hartel, president and CEO, 215-688-1322/
 (AFTI)


CO: American Film Technologies Inc. ST: California IN: ENT SU: ERP

NY-MF -- LA036 -- 6158 09/27/93 19:48 EDT
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Sep 27, 1993
Words:216
Previous Article:PUGET POWER: RATE ORDER REVIEW
Next Article:INTERNATIONAL TECHNOLOGY CORP. ANNOUNCES COMPLETION OF $60 MILLION 7 PERCENT CONVERTIBLE PREFERRED STOCK OFFERING
Topics:

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters