Videocassette Firm Posts Smaller Loss

LIVE Entertainment Inc., a motion picture videocassette company based in Van Nuys, reported a net loss of $9.8 million for the fiscal year that ended Dec. 31, compared to a net loss of $50.2 million in 1993.

LIVE’s sales for 1994 fell 19% to $139.9 million, compared to $172.2 million in sales during 1993. The company attributed the drop in revenue to having fewer video rental releases in 1994.

However, in the fourth quarter of 1994 LIVE posted a profit of $1.1 million, its first profitable quarter in two years. In the fourth quarter of 1993 it lost $44.7 million. The quarterly figures for 1993 reflected losses from the company’s decision to close its specialty retail division and a German video distribution subsidiary.

The improved fourth quarter earnings came despite a drop in sales for the period. During the fourth quarter of 1994, LIVE had revenues of $43.9 million, compared to $48.6 million during the fourth quarter of 1993.