Cannon Group Inc. reported that it earned...

Cannon Group Inc. reported that it earned $10.5 million in the first quarter, contrasted with a loss of $9.9 million a year earlier. The independent film maker said sales fell to $91.6 million from $117.5 million. The Los Angeles firm said the results were due to the sale of two subsidiaries, Commonwealth Theatres Inc. and Cannon’s Italian cinema unit, which resulted in a $28.1-million gain.

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