P.M. BRIEFING : Vestron Reports $65-Million Loss

Vestron Inc., which recently laid off about 140 employees after losing a $100-million line of credit, today reported a second quarter net loss of $65 million.

The film and video company blamed the loss on the writedown of motion picture assets resulting from the restructuring of Vestron’s operations two months ago and a substantial decline in revenue for the period.

The company said revenues for the six months were affected by a substantial decrease in videocassettes sales for titles that received less theatrical exposure, compared to those released in the same period last year, including “Dirty Dancing,” “Hamburger Hill” and “The Running Man.”