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Article: Hollywood Entertainment's Second-Quarter Net Income Increases 66%, Excluding Reel.com.
- Article from:
- PR Newswire
- Article date:
- August 3, 1999
CopyrightCOPYRIGHT 1999 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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Same Store Sales Rise 18%
Diluted EPS (Excluding Reel.com) of $0.20
Reel.com Revenue Increases 453%
PORTLAND, Ore., Aug. 3 /PRNewswire/ -- Hollywood Entertainment Corporation (Nasdaq: HLYW), owner of the Hollywood Video chain of video superstores and Reel.com, a leading Internet entertainment site, today announced financial results for the second quarter ended June 30, 1999.
Excluding Reel.com, the Company reported net revenue in its Hollywood Video unit of $242.0 million compared to $166.7 million in the second quarter of 1998, an increase of 45%. Net income was $9.4 million versus $5.7 million in 1998, up 66%, excluding Reel.com. ...