Vancouver video wholesaler and buyer TSC Shannock is noting a 4% decrease in net sales for the three-month period ending Aug. 31 compared to the same time last year.

Net sales for the fiscal first quarter are down from $18.4 million in the 1996 first quarter to $17.8 million this year.

Shannock claims the revenue slide is due to the lack of product released by major u.s. studios and is hoping for a stronger second quarter with orders on hand for titles such as Men In Black, Con Air and The Lost World.

Shannock’s gross profit slipped from $2.1 million in 1996 to $1.6 million in 1997.