May 16, 1995
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.
April 27, 1995 |
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.
March 14, 1995
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.
November 15, 1994
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.
September 20, 1994
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.
August 9, 1994
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.