Splendid Media reports Q1 sales up

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MUNICH -- Cologne, Germany-based Splendid Media AG had a banner first quarter, the company said Thursday.

Sales rose 32% over the first three months of 2006 to reach €7.4 million ($10 million), leading to a quintupling of first-quarter profits, to €500,000 ($673,000) from €100,000 in the year-ago period.

Pretax profits rose 250% year to year, to €700,000 ($942,000) from €200,000 in the first quarter of 2006.

The majority of Splendid's business came from the home entertainment segment, generating 80% of all sales. Postproduction was a distant second, with 12%, and licensing came to 8%.
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