PARIS -- Gallic major Gaumont has announced revenues of $123 million for the first half of 1999, a 24% drop compared with the same period in 1998, as profits declined 51% to $3.9 million.

Although the shift from last year may not give Gaumont execs much to smile about, outside factors account for the disappointing results to some extent, and the year's second half looks promising.

Revenues at Gaumont Television remained stable, though that division is likely to see some major changes in the coming weeks and may even be sold.

Attendance tumble

Gaumont chalks up the downs on the film side to poor overall movie attendance, which has tumbled 18% in the first six months of 1999 compared with the same period the year before.

During the first semester last year, Gaumont's cinema circuit benefited from the "Titanic" phenom, while Gaumont produced and released "The Dinner Game" and "The Visitors II," which went on to become France's second- and third-biggest B.O. earners of 1998, respectively.

Late '99 slate

On the slate for the latter part of 1999, Gaumont has four major inhouse releases, including the hotly anticipated $65 million English-lingo "Joan of Arc" from Luc Besson.

Gaumont is producing the picture and will release it in France in October with Columbia handling worldwide distribution. Pip Karmel's "Me Myself I," which saw healthy sales at Cannes, is also set to bow in October, while French comedies "Le Schpountz" and "Epouse-Moi" are primed for late '99 debuts.

Gaumont is in production on two major English-lingo pics: the Roland Joffe-helmed "Vatel," starring Gerard Depardieu, Uma Thurman and Tim Roth, and an American version of "The Visitors," with Jean Reno and Christian Clavier. Production is also set to start in October on Matthieu Kassovitz's "Rivieres Pourpres."