Doesn't look as though anyone posted the news released yesterday (below). Hopefully the 'site' news will follow.
104% Net Income Increase for Fourth Quarter 1998
Nasdaq Symbols: Common Stock - FILM
Warrants - FILMW
NEW YORK, Feb. 23 /PRNewswire/ -- HOLLYWOOD PRODUCTIONS, INC.
(Nasdaq: FILM, FILMW) announced its net income results for the fourth quarter,
1998. Hollywood Productions was pleased to announce an 104% increase in net
income in the quarter ending December 31, 1998, over the previous years
quarter. Hollywood Productions' net income figure for the three month period
ending December 31, 1998 amounted to approximately $436,612, or $0.16 per
share based on a weighted average number of shares of 2,686,944 as compared to
a net income of $214,327, or $0.11 per share based on a weighted average
number of shares of 2,040,463 in the quarter ending December 31, 1997. This
represented an improvement of $222,285 or $0.05 of net income per share All
figures are based on unaudited results.
Hollywood also announced that it has taken a 25% stake in the OTC company
Play Co Toys and Entertainment Corp. ("PLCO") (OTC Bulletin Board: PLCO).
Play Co. Toys is a toy retailer with 25 stores located in southern California,
Arizona, Illinois, Michigan, Nevada and Texas. The Company operates under the
Play Co. Toys, Toys International and Toy Co. tradenames. Play Co. Toys
specializes in offering educational, specialty, collectible, and traditional
toys.
Play Co announced record results for the nine-month period ended
December 31, 1998. The Company posted sales of $27,171,662, a $9,403,629, or
52.9% increase over its comparable 1997 nine-month sales of $17,768,033.
Play Co posted a profit before interest, taxes, depreciation and
amortization (EBITDA) of $2,359,935 in the nine-month period ended December
1998 compared to EBITDA of $254,771 in the nine-month period ended December
1997. This represented an EBITDA improvement of $2,105,164, or 826.3%.
Additionally, Hollywood's core business, feature film production is moving
aheadon schedule. Its second feature film, "MACHIAVELLI RISES," newly
completed and fresh from very favorable audience responses at the non-
competitive, Brussell's International Film Festival, will be "suited-up" for
several upcoming festivals here in the states.
Also, the company is actively reviewing new screenplays and budgets and
examining the feasibility of entering into new co-ventures in the near future.
In addition, we are looking at the new advances in digital for projects which
are not intended for theatrical (made for TV, cable, video, pay per view and
other media not associated with large screen projection) distribution.
Several of this year's Sundance films were shot on inexpensive film equipment
(still many thousands of dollars but less than 35mm film equipment) with
excellent results.
Statements contained in this press release which are not historical facts
may be considered forward looking information with respect to plans,
projections, or future performance of Hollywood Productions, Inc. as defined
under the Private Securities Litigation Reform Act of 1995. These forward-
looking statements are subject to risks and uncertainties which could cause
actual results to differ materially from those projected.
SOURCE Hollywood Productions, Inc.
-0- 02/23/99
/CONTACT: Harold Rashbaum, CEO of Hollywood Productions, Inc.,
212-688-9223/
/Web site: playco.com
(FILM FILMW PLCO)
CO: Hollywood Productions, Inc.; Play Co Toys and Entertainment Corp.
ST: New York
IN: ENT
SU: ERN
LP-SF
-- LATU099 --
6805 02/23/99 20:59 EST prnewswire.com |
