Tri-Star Reports Gain in Turnaround Quarter

Tri-Star Pictures reported first-quarter net income of $1.2 million, or 5 cents per share, a turnaround from last year, when the New York entertainment company posted a loss of $4.4 million for the same quarter. First-quarter revenue totaled $47.5 million.

Tri-Star said its first-quarter results were positively affected by the theatrical release of “Iron Eagle” in January, increased theatrical activity in certain foreign markets as well as continued contributions to revenue from the licensing of films in the pay-television and home-video markets.