Harmony Holdings Shows Quarterly Loss of $389,001
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Harmony Holdings Inc., a Burbank producer of television commercials, said its second-quarter loss widened to $398,001 from $345,802 a year earlier despite an 80% jump in revenues, to $3.13 million from $1.73 million.
For the six months that ended Dec. 31, Harmony lost $272,298 compared with a $473,371 loss a year earlier. Revenues rose 46%, to $8.15 million from $5.6 million.
The company attributed the losses to increased costs--partly due to a larger sales force--and narrower profit margins compared with a year earlier.
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