Positive Response Restates Financial Results for 1994

Positive Response Television, a Sherman Oaks-based producer of television infomercials, reported that it has restated financial results to reflect a change in accounting for two joint-venture programs.

The change increases the company’s revenue to $42.5 million for 1994, compared to the previously reported $33.9 million. Net income of $2.29 million for 1994 was unchanged by the restatement, the company said.

Positive Response said the results were restated to reflect the company’s share of revenue and expenses related to the joint ventures. Previously, only net income from the joint ventures was included in the company’s annual financial results.