*Rainmaker sees Q2 increases across the board

Rainmaker Entertainment’s revenues for Q2 ended June 30 increased to $850,000, a hike of 15% over the same period last year.

The company’s pretax profits soared 48% to $1.6 million, compared to $1.08 million in the second quarter of 1999.

ebitda for the three-month period came in at $2.6 million, an increase of $617,000 or 31% over last year.

Net earnings from continuing operations for Q2 were $1.27 million, or $0.12 per share, an increase of 111% over the $602,000, or $0.06 per share, in 1999. The company says the steep rise was due in part to a $425,000 tax recovery.

Established in 1979, Rainmaker is one of Vancouver’s leading-edge post-production companies and now one of the only post houses in the West to offer hdtv post services.

In the past six months, Rainmaker has completed a handful of hdtv projects, including the mow Blacktop for hbo and James Cameron’s Dark Angel.

*Mainframe sees revenues, net losses drop in Q1

Vancouver’s Mainframe Entertainment reports less than favorable, but improved financial results for the first quarter of fiscal 2001, ended June 30, during which time it delivered its first direct-to-video feature, Casper’s Haunted Christmas, to Harvey Entertainment.

The company had a net loss of $800,000, or $0.05 per share, for the quarter, compared to a net loss of $900,000, or $0.06 per share, for the same period last year.

Revenues for the quarter were reported at $6.2 million, a small dip from last year’s $6.9 million.

Mainframe delivered two tv episodes in the first quarter of fiscal 2001, compared to 13 in the same period last year. The company attributes the decline in deliveries to varying delivery schedules for series already airing, as opposed to those which have yet to go to air.

Mainframe’s entire production slate for 2001 relates to new tv shows, which will mostly be delivered in the fall.

The company is in production on up to a total of 66 tv episodes, 40 of which belong to the action-adventure series Heavy Gear, a collaboration with Sony Pictures Entertainment that will begin airing in domestic and international markets in early 2001. The remaining 26 episodes in production are for the Hasbro Properties Group’s series Action Man.

Mainframe’s current production of Gulliver’s Travels with Imax is due for large-screen release in late 2001.

*Devine Q2 revenues jump tenfold

Devine Entertainment’s revenues for the second quarter ended June 30 were $761,808, compared to $78,589 recorded for the same quarter last year.

Net income for the quarter increased to $123,129 from a loss of $55,870 last year.

The company says revenues for Q2 were derived from Devine’s library sales – $525,000 from broadcast sales and approximately $235,000 from worldwide video sales.

*Astral Media goes to market

Astral Media, Montreal, has announced the sale of a new treasury issue of two million class a non-voting shares to be syndicated by underwriters led by Scotia Capital in Toronto.

In a prepared statement, Astral says the underwriters also have an option for up to an additional 500,000 class a non-voting shares.

The purchase price of $38.50 will result in gross proceeds of approximately $77 million, assuming the underwriters’ option is not exercised, says Astral. Proceeds will be used to repay bank debt and for general corporate purposes, including acquisitions. Closing is anticipated on or about Sept. 14.

acm.a shares were trading at $38.90 on the tse Aug. 29. The 52-week high and low is $41 and $22.65, respectively. *