AME Loses $213,157; Cites Costs of Buyout Proposal

AME Inc., a Burbank provider of post-production services for the entertainment industry, said it lost $213,157 in its fiscal third quarter, compared with a $126,654 profit a year earlier.

The loss in the quarter ended June 30 came despite a 28% increase in AME’s revenue, to $15.3 million from $12.0 million. The company blamed the loss on costs related to a proposal by an investor group to purchase AME.

The group, led by Lawrence J. Berkowitz, agreed last month to pay $57 million for AME’s stock and to assume about $42 million of AME’s debt outstanding. The price includes $10 a share for the 44% stake held by AME founder and chairman Andrew M. McIntyre, and $12.50 a share for the remaining stock.

In the first nine months of its fiscal year, AME lost $190,625, compared with year-earlier profit of $2.30 million. Nine-month revenue climbed 38% to $47.4 million from $34.3 million.