VANCOUVER -- Delivery of fewer television series episodes led to sharply lower revenues in Peace Arch Entertainment's first fiscal quarter of 2000, ended Nov. 20. The Canuck TV producer and distributor had revenues of C$8.35 million ($5.78 million), compared with $10.27 million in the year-earlier period.
"We also expect revenues to decline in the second fiscal quarter, relative to the prior-year period, partly because of postponement of several episodes of 'First Wave,'" chief financial officer Juliet Jones told Daily Variety.
Spence ready for hire
The postponement was necessary so that actor Sebastian Spence could undergo elective back surgery. He has recovered and shooting will resume Thursday, Jones said.
"An increase in third-quarter revenue is expected," she noted.
The company reported earnings of $247,252 compared with $575,413 a year ago.
"Peace Arch had a busy quarter, which is not reflected in our bottom line," CEO Cameron White said. "We launched StreamScapes, our B2B Web-based communications tool, and signed a deal with MP3.com to source original score music through the Internet."
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