Panavision Posts 30% Hike in 2nd-Quarter Revenues
More feature film starts in North America helped Panavision post a 30% increase in revenue for the first half of 1998--up to $89.1 million.
The Woodland Hills-based movie camera maker reported a 22% increase in second-quarter revenue, to $46 million from $37.7 million last year.
Even so, the company posted a second-quarter loss of $56.6 million and a six-month loss of $54.1 million.
Looking ahead to the second half of 1998, Panavision CEO William Scott said he expects third-quarter results to soften, because major studios are currently shooting fewer large budget events or action films.
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