Positive Response Television Inc

Positive Response Television Inc. of Sherman Oaks has filed with the Securities and Exchange Commission for an initial public offering of 1 million shares of common stock for $5.50 to $6.50 each. The offering is being handled through Cruttenden & Co. Positive Response Television produces infomercials.

National Media to Acquire Infomercial Producer: National Media valued the acquisition of Sherman Oaks-based Positive Response Television, producer of the "Amazing Discoveries" infomercials, at $26 million. Positive Response shareholders would receive 0.524 share of National Media for each Positive Response share. The transaction requires shareholder approval. If the deal is completed, Positive Response shareholders will own 7% of Philadelphia-based National Media.

Positive Response Television Inc., a Sherman Oaks-based producer of television infomercials, said a shareholder lawsuit has been filed against the company and its executive officers. The plaintiff is seeking class-action status for the suit, Positive Response said, and claims to represent investors who purchased common stock in the company between Jan. 4 and April 28.

A boom in local stocks that started earlier this year subsided in the second quarter as fears took hold that economic recovery is sputtering. The composite index of 105 companies in the San Fernando, Santa Clarita and Conejo valleys and Ventura County climbed a modest 7% in the quarter that ended June 30, according to Media General Financial Services, a Richmond, Ga., firm that compiles the list for The Times.

Positive Response Television Inc., a Sherman Oaks producer of infomercials, said it has sold 400,000 new shares of its common stock for $12.50 each to a group led by the investment firm Arnhold & S. Bleichroeder Inc. Proceeds from the sale of the stock, which represents 11.2% of the company's total shares outstanding, will raise Positive Response's cash position by about $5 million, it said.

Positive Response Television Inc., a fast-growing infomercial producer, doubled its earnings in the third quarter. The Sherman Oaks company said its net income was $916,000 in the three months ended Sept. 30, up from a $442,000 profit a year earlier. Its quarterly revenue surged to $10.6 million from $1.52 million. For the recent nine-month period, Positive Response earned $1.25 million, an 89% gain from a $661,000 profit a year before. Revenue grew to $17.1 million from $2.8 million.

Positive Response Television Inc., a Sherman Oaks producer of infomercials, reported that its second-quarter earnings fell 67% despite revenues that more than tripled. In the three months ended June 30, Positive Response had net income of $127,000, down from $383,000 a year earlier. Its revenue grew to $3.43 million from $978,000 in the second quarter of 1993. For the six months, the company had a profit of $336,000, up 53% from $219,000 in earnings a year before. Its first-half revenue was $6.

Positive Response Television Inc., a Sherman Oaks infomercial producer, reported that its fourth-quarter profit surged to $1.04 million from $332,000 in net income a year earlier. However, it said, the results were below analysts' estimates because of the write-off in 1994 of various programming costs and product delays. The company's revenue in the quarter ended Dec. 31 was $16.8 million, up from $1.03 million in fourth quarter revenue a year before.

A boom in local stocks that started earlier this year subsided in the second quarter as fears took hold that economic recovery is sputtering. The composite index of 105 companies in the San Fernando, Santa Clarita and Conejo valleys and Ventura County climbed a modest 7% in the quarter that ended June 30, according to Media General Financial Services, a Richmond, Ga., firm that compiles the list for The Times.

Hair-Raising Stock Plunge: Positive Response's stock tumbled $4.125 to $8.125 on Nasdaq after the TV infomercial producer said a 30% return rate on its Perfect Hair product wiped out first-quarter earnings. The Sherman Oaks-based company now expects "approximately break-even" results for the first quarter. Perfect Hair, priced at $89.95, is a hair-weave kit that includes segments of human hair of various lengths that purchasers weave into their own hair.

Positive Response Television Inc., a Sherman Oaks-based producer of television infomercials, said a shareholder lawsuit has been filed against the company and its executive officers. The plaintiff is seeking class-action status for the suit, Positive Response said, and claims to represent investors who purchased common stock in the company between Jan. 4 and April 28.

Hair-Raising Stock Plunge: Positive Response's stock tumbled $4.125 to $8.125 on Nasdaq after the TV infomercial producer said a 30% return rate on its Perfect Hair product wiped out first-quarter earnings. The Sherman Oaks-based company now expects "approximately break-even" results for the first quarter. Perfect Hair, priced at $89.95, is a hair-weave kit that includes segments of human hair of various lengths that purchasers weave into their own hair.

Positive Response Television Inc., a Sherman Oaks infomercial producer, reported that its fourth-quarter profit surged to $1.04 million from $332,000 in net income a year earlier. However, it said, the results were below analysts' estimates because of the write-off in 1994 of various programming costs and product delays. The company's revenue in the quarter ended Dec. 31 was $16.8 million, up from $1.03 million in fourth quarter revenue a year before.

Positive Response Television Inc., a fast-growing infomercial producer, doubled its earnings in the third quarter. The Sherman Oaks company said its net income was $916,000 in the three months ended Sept. 30, up from a $442,000 profit a year earlier. Its quarterly revenue surged to $10.6 million from $1.52 million. For the recent nine-month period, Positive Response earned $1.25 million, an 89% gain from a $661,000 profit a year before. Revenue grew to $17.1 million from $2.8 million.

Positive Response Television Inc., a Sherman Oaks producer of infomercials, said it has sold 400,000 new shares of its common stock for $12.50 each to a group led by the investment firm Arnhold & S. Bleichroeder Inc. Proceeds from the sale of the stock, which represents 11.2% of the company's total shares outstanding, will raise Positive Response's cash position by about $5 million, it said.

Positive Response Television Inc., a Sherman Oaks producer of infomercials, reported that its second-quarter earnings fell 67% despite revenues that more than tripled. In the three months ended June 30, Positive Response had net income of $127,000, down from $383,000 a year earlier. Its revenue grew to $3.43 million from $978,000 in the second quarter of 1993. For the six months, the company had a profit of $336,000, up 53% from $219,000 in earnings a year before. Its first-half revenue was $6.

National Media to Acquire Infomercial Producer: National Media valued the acquisition of Sherman Oaks-based Positive Response Television, producer of the "Amazing Discoveries" infomercials, at $26 million. Positive Response shareholders would receive 0.524 share of National Media for each Positive Response share. The transaction requires shareholder approval. If the deal is completed, Positive Response shareholders will own 7% of Philadelphia-based National Media.

Cruttenden & Co., an Orange County investment banking company, said it will exercise its option to buy 150,000 shares of common stock of Positive Response Television Inc., a Sherman Oaks-based producer of infomercials. Cruttenden was granted the option of purchasing the stock as part of its agreement to underwrite Positive Response's public offering of 1 million shares in May. Net proceeds of the offering to Positive Response is now $6.05 million, the company said.

Positive Response Television Inc. of Sherman Oaks has filed with the Securities and Exchange Commission for an initial public offering of 1 million shares of common stock for $5.50 to $6.50 each. The offering is being handled through Cruttenden & Co. Positive Response Television produces infomercials.