*Profits hold steady at SSF

Salter Street Films (SSF-T) reports net profits of $1.1 million or $0.15 a share on top-line revenues of $9.4 million for the second quarter ending April 30, a 30% drop compared to the $13.6 million in revenues for ’99.

The company says revenue and profits from investment activity in Q2 are $2 million and $1.3 million, respectively. The six-month investment revenue and profits totals are $3.6 million and $2.4 million. EBITDA for Q2 is $1.8 million.

Revenues after six months stand at $19.5 million compared with $26.2 million in ’99. EBITDA is $3.7 million while net earnings after six months are $2.1 million, or $0.28 a share.

‘We are on track with our plan to increase revenues per half-hour of programming delivered and to export our content and brand abroad,’ says Catherine Tait, Salter’s president and coo.

Salter delivered 19 half-hours in Q2, including six episodes of lexx and seven episodes of This Hour Has 22 Minutes.

In the past year, the company’s library has grown from 580 half-hours to 902.

www.salter.com

*Keystone dips in first half

The lack of a theatrical release in the first two quarters of 2000 means earnings and revenues are down significantly for Vancouver’s International Keystone Entertainment.

Revenue for the six-month period ended Jan. 31 was $2 million compared to $11.6 million for the same period one year earlier.

The net loss was $447,000 ($0.04 per share) compared to net earnings of $1.5 million ($0.23 per share) last year.

According to the company, the decrease in film distribution revenue is due to film delivery timing. Last year, Air Bud: Golden Receiver was in theatres while no film has been released in the current period.

Film and music royalties improved considerably to $461,000 in the most recent two quarters from $4,000 last year.

Air Bud 3: World Pup is in post-production and should be delivered this summer.

Shares traded at $0.61 per share compared to the year high of $1.60 per share and a year low of $0.35.