Mainframe Announces Best Year Ever
Mainframe Entertainment, Inc. has announced its best financial results ever. For the fiscal year ended March 31, 2001, the Vancouver-based company reported earnings of CA$2.4 million or $0.14 per share compared to $0.84 million or $0.05 per share for the year ended March 31, 2000. As expected, Mainframe delivered a total of 50 television episodes (27 episodes of HEAVY GEAR and 23 of ACTION MAN) as well as its first direct-to-video, CASPER'S HAUNTED CHRISTMAS. The firm recorded revenues of $39.9 million compared to revenues of $32 million for the previous year. In addition, Mainframe recently paid $3.4 million of its debt to the Imax Corp. "This was Mainframe Entertainment's best year yet. The foundation laid in previous years is now supporting the ongoing production requirements of the company and, more importantly, we are now able to take full advantage of the merchandising and licensing opportunities presented by the properties we own," said Lou Novak, Mainframe's newly named CEO. Former CEO Ian Pearson has moved to the newly created position of chief creative officer, and will head new productions and steer the studio's creative teams. The studio is currently wrapping production on 26 new episodes of ACTION MAN and 40 episodes of HEAVY GEAR. Mainframe is also in the final weeks of production on its second direct-to-video, BARBIE IN THE NUTCRACKER. Additionally, Mainframe recently announced they will develop and produce a brand new animated television series in conjunction with Fleischer Studios based on the classic Betty Boop character. In addition, the company is in production on the first of two made-for-TV movies based on their REBOOT property. Novak added, "Our business expansion in this direction begins with the re-launch of REBOOT in fall 2001. Irwin Toys is producing an expanded REBOOT action figure line and we recently signed a licensing agreement with Infogrames to produce new REBOOT computer games. This is the first in a large stable of digital properties Mainframe intends to exploit across a variety of media platforms."