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E1 posts profits

E1 has posted its preliminary results for the fiscal year ending March 31, and the numbers will be reassuring for a buffeted industry looking for a bellwether.
May 26, 2010

E1 has posted its preliminary results for the fiscal year ending March 31, and the numbers will be reassuring for a buffeted industry looking for a bellwether. The company reports revenues jumped 30% to US$709.8 million, year-over-year. Reported profits before tax sit at US$11.0 million, comparing favorably against 2009′s losses of US$49.5 million. Adjusted net debt was down US$27.3 million to US$101.0 million. Finally, EBITDA was up 36% at US$54.8 million. Entertainment 1 is riding the results of a busy year, with 123 films released theatrically (including the second installment of the Twilight SagaNew Moon), and 213 half hours of television (including network pick-ups The Bridge and Rookie Blue). The company also expanded into Australia, France and New Zealand in 2009.

About The Author
Senior staff writer Frederick Blichert comes to realscreen with a background as a journalist and freelance film critic. He has previously written for VICE, Paste Magazine, Senses of Cinema, Xtra, Canadian Cinematographer and elsewhere. He holds a Master of Arts in film studies from Carleton University and a Master of Journalism from the University of British Columbia.

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