J2 Communications/National Lampoon Announces Earnings Of $.64/Share for Fiscal 2000
LOS ANGELES, Nov. 13 /PRNewswire/ -- J2 Communications/ National Lampoon (Nasdaq: JTWO - news) today announced that the Company earned $826,416, or $.64 per share, for the fiscal year ending July 31, 2000. In Fiscal 1999 the Company reported a loss of $1,298,888, or ($1.07) per share).
Revenues for the fiscal year totaled $1,480,215 versus $1,246,472 in the prior year, an increase of 18.8%. The Company attributed this growth to increased revenues derived from motion pictures such as ``National Lampoon's Vacation,'' ``National Lampoon's Loaded Weapon I,'' and ``National Lampoon's Dad's Week Off.''
A Company spokesperson noted that the dramatic increase in earnings was due not only to improved motion picture performance, but to a decrease in liabilities for vested stock appreciation rights (SAR's) caused by a decrease in the price of the common stock during the year.
Commenting on these results, J2/National Lampoon President and C.E.O. James P. Jimirro stated, ``We are delighted with the increase in our motion picture revenue. In addition, we see a bright future for our website, nationallampoon.com, which is proving to be an incubator for creative content which can be leveraged into other media. During Fiscal 2001 we will be aggressively pursuing opportunities presented here.'' |
