Devine Entertainment of Toronto is reporting first-quarter revenues (ended March 31) of $535,058 compared to $801,224 for the same period last year. Net income for the quarter is $56,150 or an eps of $0.005.

Devine says the low revenues for the period were anticipated as the company delivered only one production, to hbo. It says revenues are projected to increase substantially in the third and fourth quarters when three films in The Artists’ Specials series will be delivered to hbo, and other contracted broadcast licensees including ytv, tfo and Disney France.

Last month, Devine won three Daytime Emmy Awards for its Inventors’ Specials.

It began principal photography on Rembrandt: Fathers and Sons, one of the Artists’ Specials, May 30 in the Czech Republic.