Thursday November 27, 4:53 pm Eastern Time
Company Press Release
Rainmaker Digital Pictures Third Quarter 1997 Summary
VANCOUVER, British Columbia--(BUSINESS WIRE)--Nov. 27, 1997-- Rainmaker Digital Pictures (TSE:RNK. - news; ME:RNK. -
news) Rainmaker Digital Pictures Corp. (the ''Company'') announces that due to the ongoing strike by Canada Post, quarterly reports
scheduled for distribution to shareholders on or before November 29, 1997 will not be possible. Therefore, the Company has made the
third quarter reports available for pickup at its head office, 50 W. 2nd Avenue, Vancouver, BC.
Alternatively, a summary of the report is hereby offered for those unable to obtain a copy from the head office of the Company. Upon the
resumption of regular mail service, the quarterly reports will be mailed in accordance with National Policy No. 41.
QUARTER SUMMARY
Income Statement for the 3 months ended September 30, 1997:
-- consolidated revenue increased 67 percent to $6.9 million from $4.1 million for the same period last year.
-- EBITDA was $3.10 million, up from $1.46 million or an increase of 110 percent over prior year.
-- the Company's net earnings (after tax) posted an increase of 114 percent to $1.0 million, up from $474 thousand for the same period last
year.
-- basic earnings per share were $0.10 compared to $0.05 for the same three-month period in 1996.
Income Statement for the 9 months ended September 30, 1997:
-- consolidated revenue increased 67 percent to $18.4 million from $11.0 million for the same period last year.
-- EBITDA was $7.4 million, up from $4.3 million or an increase of 72 percent over prior year.
-- the Company's net earnings (after tax) show an increase of 54 percent to $2.4 million, up from $1.5 million for the same period last
year.
-- basic earnings per share were $0.24 compared to $0.17 for the same nine-month period in 1996.
Balance Sheet as at Sept. 30 1997 1996
Cash Balance $ 7,808,119 $ 4,283,834
Current Assets $ 12,319,865 $ 8,100,442
Total Assets $ 33,741,377 $ 21,331,388
Current Liabilities $ 3,989,689 $ 1,696,329
Total Liabilities $ 14,731,571 $ 7,643,822
Shareholder's Equity $ 19,009,806 $ 13,667,566
Common Shares Issued 10,311,373 9,473,012
Rainmaker Digital Pictures Corp. operates digital post-production facilities in Vancouver, BC, and Los Angeles, California, providing a
range of image processing services to producers of feature films, television and new media. Based in Vancouver, BC, the Company
operates through its divisions Gastown Film Labs, Gastown Post, Rainmaker Imaging (computer animation and digital visual effects), and
Rainmaker Interactive (video compression and proprietary software development). The Company's Los Angeles facility specializes in
digital visual effects for the Hollywood feature film and television market. |
