Global disc replicator Cinram has reported second quarter 2008 revenues of $412.8 million, up from $345.1 million in 2007. Though earnings before interest, taxes and amortization (EBITA) were $33.3 million in 2008, down from $34.4 million the second quarter of 2007.

Cinram reported net loss from continuing operations for the second quarter of 2008 of $8.7 million compared with a net loss of $25.5 million in 2007.

Looking at market segments, second quarter Home Video revenue (which includes replication and distribution of DVDs and high-definition discs) was up 8% to $247.7 million from $229 million in 2007 as a result of an increase in DVD replication revenue due to organic growth in North America and the addition of a distribution mandate from Universal Picture in Europe.

Cinram announced it replicated 246 million DVDs in the second quarter of 2008, up 18%from 209 million units in 2007. High-definition disc replication revenue increased to $5.1 million in the second quarter of 2008 from $4.2 million in the comparable 2007 period.

Interestingly, CD segment revenue (which includes replication and distribution of CDs) increased a healthy 9% in the second quarter to $54.0 million from $49.6 million in 2007 due to a change in product mix.

While second quarter North American revenue increased 11% to $269.4 million from $242.4 million in 2007, European revenue increased 40% in the second quarter to $143.4 million from $102.6 million in 2007, principally due to the new replication and distribution agreement with Universal.

North America thus accounted for 65% of second quarter consolidated revenue (compared with 70% in 2007) while European revenue represented 35% of sales compared with 30% in the second quarter of 2007.

Story filed 13.08.08