Live Entertainment, a Newbury Park entertainment conglomerate, reported record sales and earnings for the year that ended December 31. Sales climbed 50% for the year to $352.1 million while the company posted profits of $17.5 million, compared to a year-earlier loss of $727,000.
In the fourth quarter the company recorded a 54% increase in sales to $132.1 million while posting earnings of $10.6 million, compared to a profit of $1.3 million a year earlier.
Last year the company merged with Lieberman, a Minneapolis-based supplier of records and videocassettes. LIVE is a producer and distributor of films on videocassettes. In January the company announced plans to acquire an East Coast record store chain called Strawberries.