Iwerks Shows Profit Gain Despite Revenue Decline

Iwerks Entertainment Inc., a Burbank developer of specialty theaters, reported earnings of $174,000 in its fiscal first quarter ended Sept. 30, up 23% from net income of $141,000 a year earlier.

It managed the profit gain despite a 5% decline in revenue, to $9.59 million from $10.1 million.

However, the company said that delays in its receipt of additional deposits for simulation theaters in China could result in lower earnings and revenue in its fiscal second quarter.