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CALIFORNIA | COMPANY TOWN ANNEX | THE STATE

Ticketmaster's 4th-Quarter Earnings Soar

March 18, 1997|(James Bates)

Announcing its first fiscal-year results since going public, Los Angeles-based Ticketmaster said earnings before interest, taxes, depreciation and amortization in the quarter ended Jan. 31 totaled $9.2 million, more than five times the $1.6 million in the fourth quarter a year earlier. For the year, income was $22.6 million, more than double that of a year earlier. Revenue for the quarter rose 74% to $68.4 million; for the year, it rose 43.2% to $231 million. Net income for the fourth quarter was $1.4 million, compared with a loss of $3.1 million a year earlier. For the year, profit was $1.8 million, compared with a loss of $8.1 million in the year-earlier period. Ticketmaster attributed the strong results to increased ticket sales and its expansion into new businesses.

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