Iwerks Reports $415,939 Loss in 2nd Quarter
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Iwerks Entertainment Inc., a Burbank developer of special-format theaters and virtual-reality attractions, reported a $415,939 loss in its fiscal second quarter, while its revenue doubled to $8.96 million.
In the same quarter a year before, Iwerks lost $560,270 on $4.26 million in revenue.
For the six months, the company’s loss totaled $1.92 million, in contrast with a year-earlier loss of $33,344. Its revenue rose 87%, to $15.6 million from $8.35 million.
Iwerks said its first Cinetropolis entertainment complex opened at the Foxwoods Resort Casino in Ledyard, Conn., on Jan. 19. Cinetropolis combines specialty theaters--with big screens, moving seats and 360-degree screens--with restaurants, shops and a virtual-reality ride under one roof.
The company also announced that it appointed Eric G. Rodli, chief financial officer, to the additional post of chief operating officer.
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