Film Roman Announces Increase In Quarter 2 Revenue
Independent animation company Film Roman has reported that revenue increased by 18% or $1.7 million, to $11.1 million for the quarter ended June 30, 2002 compared to $9.4 million for the quarter ended June 30, 2001. The revenue increase is attributed to the delivery of more fee-for-services television episodes. Net loss attributable to common stock for the second quarter of 2002 was ($169,756) or ($0.02) per share compared to a net loss attributable to common stock of ($1,293,641) or ($0.15) per share for the second quarter of 2001. "During the first two quarters of this year we have concentrated on increasing our for-hire work in television, commercials and visual effects," stated CEO and president John Hyde. "A combination of more work, along with stringent cost controls in both overhead and production, has helped Film Roman successfully get through the current economic downturn." In addition to returning series, THE SIMPSONS, KING OF THE HILL and X-MEN: EVOLUTION, Film Roman's new series, TRIPPING THE RIFT, is in production for the SCI-FI Channel and the company is also producing new commercials for Burger King, Showtime Networks and Suntory Products. Other ventures include the second annual DirecTV - Level13.Net Animated Film Festival scheduled for DirecTV broadcast in January 2003 and the company's VFX division, Forum Visual Effects, is currently developing pre-production visual effects for the feature film, THE FALLEN ONES.