VALLEY BUSINESS : BUSINESS ROUNDUP : Iwerks Reports Losses for Year, Fourth Quarter

Iwerks Entertainment Inc., Burbank, reported a net loss of $2.6 million for the fourth quarter ended June 30, compared with a loss of $2.5 million for the same period last year. Revenues increased to $8.4 million, from $6.6 million.

For the 12 months ended June 30, the company had a net loss of $4.8 million compared with a net loss of $11.6 million for the previous year. Revenues increased to $34.9 million, from $25 million.

Iwerks is a full-service provider of high-tech entertainment systems using large-screen film format, including ride simulation and specialty venue attractions.