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Revenue for the first six months dropped slightly to $870 Those talks are ongoing and any announcement is still weeks away, according to studio sources who commented on the condition of anonymity Shipment of DVDs increased 11 percent to 34 million during the quarter 6 billion The results beat estimates of analysts surveyed by Thomson First Call, who had expected a loss of 11 cents per share 1 million from $882 7 million, or 8 cents per share, for the quarter ended June 30, compared to a loss of $133 A third, "Soul Plane," lost money Executives also did not comment on speculation that actor Pierce Brosnan would not be back to play secret agent James Bond in the 21st installment of the film franchise The studio also recorded a loss for "Sleepover," which was released in July 7 million in the same quarter last year "For obvious reasons, we will not entertain any questions today, hypothetical or otherwise, on any strategic alternatives under consideration," chairman and chief executive Alex Yemenidjian said during a conference call with analysts 10 Thursday on the New York Stock Exchange The studio, which also produced television shows such as "Stargate SG-1" and "Dead Like Me," reported net cash from continuing operations of $33 Revenue fell to $406 9 million The studio is developing television series based on its films "Barbershop" and "Legally Blonde" and is developing a feature film based on its cable television series "Stargate SG-1 1 million from $487 6 million, or 55 cents per share in the same period last year " For the first six months of the year, MGM reported a net loss of $40 9 million, or 17 cents per share, compared to a loss of $189 Because the film was released before second quarter earnings were announced, accounting rules required that the loss be recorded against second quarter earnings MGM chief operating officer Chris McGurk said the still-untitled film is slated for a November 2005 release MGM said two theatrical releases in the quarter, "Walking Tall" and "Saved" would be profitable MGM Narrows Second Quarter Loss Jul 29, 3:56 PM EST Film studio Metro-Goldwyn-Mayer reported a sharply reduced net loss for the second quarter Thursday on lower revenues during a period that saw two small, but profitable, theatrical releases as well as one flop During the quarter, MGM paid a special, one-time dividend of $8 per share, financed by borrowings MGM shares fell 6 cents to close at $12 or Time Warner Inc The studio is still working on a script and has yet to choose a director or decide on casting, he said MGM, which also produces television shows and has significant income from one of the industry's largest film libraries, reported a net loss of $19 4 million, or 77 cents per share in the same period last year Executives would not comment on the company's exploration of a possible sale to Sony Corp |
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