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LOS ANGELES—(BUSINESS WIRE)–Aug. 15, 2001–WWMP today reported revenues of $142,873 for the second quarter of fiscal year 2001, ended June 30, 2001, up 63% from $90,297 in last year’s second quarter, representing a stronger second quarter for WWMP this year.
Earnings after provisions for taxes and adjusted for depreciation for the second quarter were $141,485, a 63% increase over $88,909 for the second quarter last year.
“The year got off to a good start,” said Paul Hancock, president/CEO. “Audiences love `AMY,’ our first major domestic theatrical release, which has significantly increased our presence in the U.S. theatrical market and continues to help us create ideal conditions for stronger upcoming quarterly performances as the film maintains its rollout across the country.”
Hancock added, “We are also extremely pleased that we have been able to orchestrate arrangements for ancillary sales of the film with some of the top companies in the industry, including Swank Motion Pictures for cruise lines and universities, and Terri Steiner International for airlines throughout the world.”
WWMP expects the third and fourth quarters of 2001 to exceed the first half year revenues from current activities. Management is reviewing several new feature films as a follow-up to “AMY” which may have a high potential for domestic theatrical marketing success.
Please refer to WWMP’s Securities and Exchange Commission filings for additional information.
Founded in 1977, WWMP is a diversified company with shareholders throughout the world which is involved in the development, financing, production and distribution of features, documentaries, short subjects, industrials and television productions.
WWMP’s industry executives and board members have produced, distributed and consulted on a wide variety of film and television projects, earning Academy Awards, Emmy Awards and prizes from world film festivals. Visit the company’s Web site at www.wwmpc.com.
Any forward-looking statements contained in this release which reflect management’s best judgment based on factors currently known, involve risks and uncertainties. Actual results could differ materially from those anticipated in the forward-looking statements included herein as a result of a number of factors including, but not limited to, WWMP’s ability to enter into various financing programs, competition from other companies, acquisition of suitable motion pictures and the performance of films in general licensed by WWMP.
