Live Entertainment Reports Small Profit

Troubled videocassette distributor Live Entertainment Inc. managed a small profit in the third quarter, thanks in part to sales of “Terminator 2: Judgment Day” and “Basic Instinct” on home video.

Van Nuys-based Live earned $1.08 million in the three months that ended Sept. 30, in contrast with a year-earlier loss of $40.5 million. Its revenue increased 6%, to $91.2 million from $85.7 million.

In its latest nine-month period, Live lost $13.6 million, compared to a $99.8-million loss a year before. Its revenue totaled $201.8 million, a 16% decline from $238.9 million.

The company also said it was helped by sales of its “Christmas Classics” series of video titles, the settlement of a distribution dispute, higher sales at its retail division and lower expenses.

Live is 49.9% owned by Carolco Pictures Inc., a financially ailing movie production company based in Los Angeles.