Vancouver: The flagging fortunes of Vancouver public companies are finally having a respite. Earlier this month, Lions Gate Entertainment reported a quarterly profit and now Mainframe Entertainment is in the black with its second quarter of fiscal 2000 (ended Sept. 30).

Mainframe reported quarterly revenues of $8.2 million, compared with revenues of $200,000 tallied in the same period last year. Quarterly net earnings, meanwhile, were $700,000 ($0.04 per share) compared with a loss of $5.9 million ($0.43 per share) for the same period last year.

Increased revenues are being attributed to the delivery of 13 episodes in the second quarter: seven episodes of Beast Machines delivered to Hasbro, part of a 26-episode commitment, and six episodes of Weird-Ohs, part of a 13-episode order, delivered to Fox Family Channel and EM. TV & Merchandising ag.

No episodes were delivered in the second quarter of its fiscal 1999.

‘The financial restructuring we completed during the quarter, our strategic relationship with Imax, and our expanding relationship with Hasbro position the company well for the future,’ says Mainframe president and ceo Ian Pearson.

‘We are continuing to develop our feature film capabilities, and are continuing our search for another senior executive to help in the daily operations of Mainframe.’

Year-to-date results show Mainframe has recorded revenues of $15.1 million in fiscal 2000, compared with only $300,000 at the same point last year. The net loss after six months is $200,000 ($0.01 per share), compared with a loss of $9.9 million ($0.71 per share) in the same period last year.

At press time, shares of Mainframe were trading at $1.90 compared to the 52-week high of $3.20 per share and the low of $1.30 per share.