Advertisement

EARNINGS

MCA Earnings Increase 10% During 3rd Quarter

October 17, 1986|KATHRYN HARRIS

MCA Inc. reported earnings of $74.5 million for the three months ended Sept. 30, up 10% from the same period a year ago. The entertainment company said net income for the nine-month period was $133.6 million, up 36% from last year.

The Universal City-based company said revenue for the three-month period rose 21% to $759.3 million. For the nine months, revenue rose 22% to $1.8 billion.

Only three of six MCA divisions actually reported gains in operating income during the third quarter: music entertainment (which includes videocassette distribution fees), up 36%; toy products, up 54%, and "other operations," up 87%. (MCA's real estate development unit, Yosemite Park & Curry Co. and joint ventures such as USA Network are included in the "other" category.) Theatrical revenue dropped sharply in the third quarter, to $57.4 million from $132.2 million a year ago, when the company was enjoying the box-office success of "Back to the Future." The company called the third-quarter slate of films, including "Howard the Duck," very disappointing.

Television revenue jumped to $286.3 million in the third quarter, up from $156.5 million, due largely to the recognition of off-network TV sales of "Magnum, P.I.," a popular MCA television show.

Advertisement
Los Angeles Times Articles
|
|
|