Positive Response Television Inc., a Sherman Oaks infomercial producer, reported that its fourth-quarter profit surged to $1.04 million from $332,000 in net income a year earlier. However, it said, the results were below analysts' estimates because of the write-off in 1994 of various programming costs and product delays.
The company's revenue in the quarter ended Dec. 31 was $16.8 million, up from $1.03 million in fourth quarter revenue a year before.
For all of 1994, Positive Response said its earnings totaled $2.29 million, up 77% from $1.3 million in net income the previous year. Its annual revenue rose to $33.7 million from $3.83 million.
Positive Response said its growth last year was due to its expansion in the infomercial business and its move from royalty-based income to revenues from the sale of products.