Live Entertainment Profit Drops Slightly in Quarter

Live Entertainment Inc., a Van Nuys-based distributor and retailer of videos and recorded music, reported a $1.79-million profit for the first quarter that ended March 31, down slightly from a $1.82-million profit a year earlier. Revenue rose 9% to $161.4 million from $148.3 million.

Live Entertainment said its profit margins in the latest quarter were adversely affected by increased costs, mainly additional promotional and marketing expenses for its home-video subsidiary and costs associated with the expansion of its music business. It also cited weak retail sales, particularly in the Northeast, due to the recession.

Carolco Pictures Inc. owns a 47% voting interest in Live Entertainment.