AME Shows a Big Gain in Its First-Quarter Profit
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AME Inc., a provider of videotape post-production services for the movie and television industries, said its fiscal first-quarter profit soared 86% from a year earlier on a 33% revenue gain.
The Burbank-based concern said net income in the quarter ended Dec. 31 climbed to $1.25 million, or 25 cents a share, from $671,638, or 17 cents a share, a year earlier. The gain in per-share earnings trailed the jump in overall net income because AME had an average 5 million common shares outstanding in the latest quarter, contrasted with 4 million a year ago. AME’s first-quarter revenue totaled $10.9 million, up from $8.2 million.
The improved results reflected the company’s internal growth and recent acquisitions, AME Chairman Andrew M. McIntyre said in a statement.
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