M8 posts $2.3 mil 3rd-qtr. profit
EmptyTORONTO -- A writedown on film costs for "Lovewrecked" helped M8 Entertainment Inc. swing to a third-quarter profit, the Canadian movie producer said Tuesday.
Montreal-based M8 Entertainment posted a profit of CAN$2.6 million ($2.3 million) for the three months to Sept. 30, against a loss of CAN$3.6 million in 2005.
Third-quarter revenue fell to CAN$8 million ($7.1 million), against a year-earlier CAN$9.6 million. M8 Entertainment said its write-down on the Amanda Bynes starrer "Lovewrecked" was prompted by a revision of ultimate revenue in earlier quarters for the teen romantic comedy.
M8 Entertainment also said it has completed shooting for the Brittany Murphy starrer "Ramen Girl."