De Laurentiis Entertainment Group Inc. reported that...

De Laurentiis Entertainment Group Inc. reported that although the audit for its fiscal year has not yet been completed, it expects to report a loss of about $34 million for the 12 months ended Feb. 29. The Beverly Hills-based company also said it expects to report that its debts will exceed its assets by $22 million as of Feb. 29. De Laurentiis said the results included writedowns of about $20.6 million for the year for “certain unreleased films, in particular including ‘Illegally Yours,’ ‘Bill and Ted’s Excellent Adventure’ and ‘Traxx,’ as well as writedowns on ‘Noble House,’ other films previously released and a charge for abandoned film properties.” The company went public in February, 1987, so there are no comparable figures.