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Article: KINGS ROAD ENTERTAINMENT ANNOUNCES RETURN TO PROFITABILITY AND NEW BANK CREDIT FACILITY
- Article from:
- PR Newswire
- Article date:
- February 8, 1994
CopyrightCOPYRIGHT 1994 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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LOS ANGELES, Feb. 8 /PRNewswire/ -- Kings Road Entertainment Inc. (OTC: KREN), today announced that it is experiencing a return to profitability and has been granted an important new loan facility.
Kings Road reported a net profit of $1,063,697 or $0.20 per share as compared to a net loss of $263,306 or -$0.05 per share for the prior fiscal year. For the six months ended Oct. 31, 1993, operating results continued to be moderately profitable, and the company expects to be profitable for the current fiscal year ending April 30, 1994.
Kings Road also announces that it has recently entered into a new bank facility with Credit Lyonnais Bank Nederland for production. ...