From NT 10-K (Preliminary annual numbers)
The registrant estimates revenue of approximately $9,957,000 for the
year ended February 28, 1999, as compared to revenue of $4,658,270 for
the year ended February 28, 1998. This change in the results of operations is attributable in part attributable to revenue from exhibitions of approximately $5,450,000 during the year ended February 28, 1999 as compared to revenue from exhibitions of $4,151,912 year ended February 28, 1998.
In addition, the registrant had licensing fees of approximately $3,495,000 during the year ended February 28, 1999 as compared to licensing fees of $114,708 during the
year ended February 28, 1998, and had merchandise, book and other revenues of
approximately $680,000 during the year ended February 28, 1999, as compared to
$244,676 from these sources during the year ended February 28, 1998. The
registrant's general and administrative expenses increased from $1,176,373
during the year ended February 28, 1998 to approximately $1,730,000 during the
year ended February 28, 1999, principally as a result of an increase in
professional fees and exhibition deinstallation expenses. Additionally, the
registrant had depreciation expense and costs associated with the write-down of
certain exhibitry equipment of approximately $396,000 during the year ended
February 28, 1999, as compared to $23,171 depreciation expense during the
year ended February 28, 1998.
Income before taxes was approximately $5,868,000 for the year ended February 28, 1999 as compared to $3,517,437 for the year ended February 28, 1998. After provision for income taxes of approximately $2,365,000 for the year ended February 28, 1999 as compared to provision for income taxes of $150,000 for the year ended February 28, 1998, the registrant had net income of approximately $3,503,000 for the year ended February 28, 1999 as compared to $3,367,000 (after application of the available portion of its net operating loss carryforward) for the year ended February 28, 1998.
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