Hannover House Posts Improved Income Results for Q1, 2012
Hannover House Posts Improved Income Results for Q1, 2012
Source: Hannover House / Target Development Group, Inc.
Date: May 11, 2012 18:49 ET
Diversified schedule and emphasis on video market improve bottom line for indie film studio...
"Los Angeles, CA, May 11, 2012 (GLOBE NEWSWIRE) -- Hannover House, Inc. (Pinksheets: HHSE), a leading independent distributor of films, books and entertainment products, reported that net income for the first quarter of 2012 increased by more than 11% over the same period last year. Gross revenues for the three months ending March 31, 2012 were $603,535, with pre-tax net income of $394,410.
"Net income for last year's first quarter (2011) was $353,516, on higher gross revenues of $1,412,832, primarily from home video and V.O.D. sales generated by 20th Century Fox Home Entertainment's release of the Hannover House title, "Twelve." While gross revenues for Hannover House during this year's first quarter were lower, the net income to sales percentage increased by an impressive 40%, due to lowered costs of sales and marketing from a release slate more dominated by direct-to-video or limited release theatrical titles."... (more)
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globenewswire.com
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Jim
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