AME Reports Profit More Than Doubled in Quarter
AME, a leading provider of post-production services for the movie and television industries, said its fiscal fourth-quarter profit more than doubled from a year earlier on a 24% revenue gain.
The Burbank-based concern said net income in the quarter ended Sept. 30 jumped to $1.2 million, or 24 cents a share, from $481,504, or 12 cents a share, a year ago. Revenue rose to $10.4 million from $8.4 million.
The gains reflected the company’s acquisition of some smaller competitors in the past year. Gary Costanzo, AME’s chief financial officer, said the acquisitions helped boost income while AME also cut its operating and debt-interest costs.
AME’s full-year profit also more than doubled to $4 million, or 87 cents a share, from $1.8 million, or 44 cents a share, in fiscal 1986. Annual revenue climbed 44% to $37 million from $25.7 million.
For detailed data and results of other companies, please see tables, Page 13.
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