Live Entertainment Inc. Reports $1.89-Million Loss

Live Entertainment Inc., a financially troubled Van Nuys videocassette distributor and retailer, reported a $1.89-million first-quarter loss on a 21% decline in sales.

The company blamed the loss on decreased sales at both its home video distribution business and retail chains, declining profit margins at its retail division and increased expenses. It also said it was hurt because it had no major theatrical motion picture to release on video during the quarter.

Live’s loss followed a year-earlier profit of $1.79 million. Sales totaled $67.6 million, in contrast with $86 million in sales in 1991’s first quarter.

Live, which is 53%-owned by troubled film producer Carolco Pictures Inc., said it is continuing to work with its financial advisers to restructure its debt and replace its current credit line that expires in December.