Tuesday, August 17, 2004

Canada : Fahrenheit 9/11 heats up Alliance's bottom line

The box office success of Michael Moore's controversial film Fahrenheit 9/11 has begun to spin revenue for its Canadian distributor Alliance Atlantis Communications Inc.

While the movie was released just six days before the end of the firm's second quarter on June 30, it generated $3.7-million in Canadian box office receipts up to that date, Alliance Atlantis announced yesterday.

With the film now having brought in more than $100-million across North America, it is expected to provide a boost in revenue to Alliance Atlantis in the current and coming quarters.

The company does not break out specific revenue numbers for individual distribution deals.

But Alliance said strong distribution revenue from films such as Fahrenheit 9/11 and DVDs, such as the final chapter of the Lord of the Rings trilogy, helped propel second-quarter profit to $10.4-million or 24 cents a share, a dramatic turnaround from a loss of $7.1-million or 17 cents, in the year-earlier period.

Total revenue at Alliance Atlantis in the second quarter was $267.6-million, a 68-per-cent rise from $159.7-million in the year-earlier period.

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