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EARNINGS

October 08, 1987

Home Shopping Network said its income jumped 74% to $29.5 million for the year ended Aug. 31. For the fourth quarter, income fell 41% to $3.3 million. The Clearwater, Fla., company noted the acquisition of Redi-Med Inc., a pharmaceutical repackaging company, and of Precision Software Inc., a computer software company, and the repurchase and refinancing of $20 million of senior notes during the fourth quarter. HSN also realized a gain of $4.4 million during the fourth quarter from the purchase of assets and subscriber base of Canadian Cable Value Network by the Canadian Home Shopping Network. HSN owned about 22% of CCVN stock. Revenue for the year was up 263% to $582.1 million.

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