MGM Holdings Inc., the parent of Metro-Goldwyn-Mayer Inc., reported net income of $35.9 million for its fiscal second quarter ending June 30.
The Beverly Hills-based film and television company's revenue rose dramatically -- by 164% -- to $339 million.
Net income was down 16% from the $42.6-million profit the company posted for the same quarter a year earlier. However, that 2012 figure includes a one-time gain related to an asset sale.
Excluding that gain, which came from the sale of Latin American pay-television assets to Chellomedia, MGM's net income was up $30 million.
“I continue to be very pleased with our strong performance to date in 2013 and look forward to the year ahead,” Chairman and Chief Executive Gary Barber said in a statement.