National Lampoon Earnings Grow

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Thanks to proceeds from a royalty’s settlement, National Lampoon Inc. said it saw huge jumps in profit and revenue for the first quarter of 2006.


But the Los Angeles production house also said it will not file its quarterly earnings statement with the Securities and Exchange Commission until Dec. 26 due to the abrupt resignation of Chief Financial Officer Jeff Gonzalez about a week ago.


National Lampoon said its preliminary calculations indicate net income for the quarter was $1.4 million (20 cents per share), a significant increase from a loss of $2.2 million (-34 cents) for the same period a year earlier.


Revenues for the company also saw a 291 percent jump to $3.3 million, mainly due to a settlement from Universal Pictures involving royalties stemming from its 1978 hit “National Lampoon’s Animal House.”


Shares in National Lampoon were up 20 cents to $2.40 in early trading Thursday.

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