Montreal: Telescene Film Group is reporting consolidated net earnings for the nine-month period ending Nov. 30, 1998 of $3.4 million, a 31% increase over last fiscal.

Revenues after nine months are $32.6 million compared to $30.4 million a year ago. Earnings per share is $0.36 based on 9,430,323 weighted average number of shares outstanding, down from $0.40 based on 6,355,685 outstanding shares.

For the third quarter, Telescene had net earnings of $2.3 million, a 77% hike over the previous corresponding period. Revenues were $20.4 million compared to $11.2 million. eps is $0.23.

Library revenues for the third quarter were $1.5 million for a total of $7.4 million for the first nine months of fiscal 1999.

During the third quarter, Telescene delivered a total of 31 half-hour episodes of television, including 19 episodes of the teen sitcom Student Bodies for a total of 26.

Principal photography continued on the second season of The Hunger, and on two new series for Fox Family Channel, Misguided Angels and Big Wolf on Campus. Production wrapped on The Lost World while preproduction continued for Dr. Jekyll & Mr. Hyde and Blackheart, both for the Action Adventure Network. As a result, Telescene’s work in progress totaled $32.5 million during the period.

At press time, Telescene b shares were trading at $18 on the tse.