Lorimar Income Up 166% During Year
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Lorimar Inc., which produces TV’s “Dallas,” “Knots Landing” and “Falcon Crest” series, reported that fiscal-year earnings increased 166% to $31 million from $11.7 million last year.
The increased earnings reflected an extraordinary loss in the previous year of $2.6 million from a settlement with a German partnership over production financing agreements in 1978 and 1979.
Lorimar, which earlier this month announced an agreement to merge with Telepictures Corp., reported that total revenue for the year ended July 27 increased 39% to $364.7 million from $263.2 million in fiscal 1984.
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