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Rainmaker Entertainment Turns To Profit In Q3 On Higher Revenues

November 9th, 2010 - RTT Staff Writer

(RTTNews) - Rainmaker Entertainment Inc. (RNK.TO:News) Tuesday reported a profit for the third quarter, as against a loss last year, as revenues jumped 55%.

Net earnings from continuing operations was C$ 0.70 million or $0.04 per share compared to a loss of C$ 0.93 million or $0.05 per share in the same quarter last year.

The earnings before undernoted items improved to $0.6 million for the quarter, an improvement of $1.6 million from the prior-year quarter. Revenues for the quarter was C$ 4.75 million, up 55% over the year-ago quarter, driven mainly by increased production volumes in both the DVD division and on a feature film.