Live Entertainment Inc. Reverses, Turns Profits
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Live Entertainment Inc., a Van Nuys videocassette distributor, turned around its flagging fortunes of the past few years with profits in its fourth quarter and for all of 1995.
In the three months ended Dec. 31, Live earned $3.23 million, more than triple the $1.06 million it earned a year earlier. Its quarterly sales were down 8%, to $33.1 million from $35.9 million.
For the year, Live reported a $10.8-million profit, reversing its 1994 loss of $9.77 million. Its annual sales grew 20%, to $140.1 million from $117.2 million.
Live said the increases in net income and sales were mainly due to a stronger video release schedule.
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