December 22, 1992
American Film Technologies expects to lose $700,000 to $1.2 million in its current quarter due to expenses incurred in moving some of its film-coloring and animation operations to Tijuana. The North Hollywood-based company's second quarter will end Dec. 31. American Film Technologies also blamed the loss on lower revenues from its colorization business and the cost of buying out the contract of Joseph M. Taritero, its former chairman and chief executive, who left the company in November.
May 19, 1992
American Film Technologies Inc., a North Hollywood company that supplies animation production services and special effects to the television and motion picture industries, reported a $156,000 profit in its first quarter that ended March 31. A year earlier, American Film lost $2.89 million. In its latest quarter, revenue totaled $3.13 million, up 86% from $1.68 million in 1991's first quarter. The company attributed the gains to growth in its film coloring and animation businesses.
August 25, 1992
American Film Technologies Inc., a North Hollywood provider of animation services and special effects for the television and film industries, said it had received a commitment for a $2-million credit line from the Bank of Industry. The company said the arrangement was a change in its primary banking relationship, from Meridian Bank in Pennsylvania to Bank of Industry, and reflected the company's move of its headquarters from Wayne, Penn., to North Hollywood earlier this year.
July 6, 1993
American Film Technologies Inc., a North Hollywood producer of animation and special effects for movies and television, said it is still negotiating with a group led by evangelist M. G. (Pat) Robertson that is interested in investing $4.7 million in the company. A letter of intent regarding the proposal signed May 26 remains in effect, American Film said. But Robertson's group has not yet finished its due diligence investigation, and so a definitive agreement on the matter has not been reached.
November 27, 1987 |
American Film Technologies (AFT), as part of a new deal with Ted Turner's Entertainment Co., will deliver colorimaged--a new word the company coined for colorizing--versions of the classic films, " Boom Town" (Clark Gable and Claudette Colbert), "They Were Expendable" (Robert Montgomery and Donna Reed) and "Catered Affair" (Bette Davis and Ernest Borgnine). Turner's company then has an option to have AFT color up to 49 more black-and-white films by 1992 for approximately $14 million.
October 5, 1993
American Film Technologies Inc., a North Hollywood producer of animation and special effects for movies and television, said New York attorney and investment banker Gerald M. Wetzler agreed to acquire 75% of American Film for about $3.3 million. The agreement with Wetzler ends American Film's long search for an investor to provide the company with needed capital.