Odyssey shows revenues of over $3 million in December 1996 10-Q

Business Wire, Feb 24, 1997

LOS ANGELES--(BUSINESS WIRE)--Feb. 24, 1997--Odyssey Pictures Corp. (OTC BB:OPIX) Monday announced they have filed the Form 10-Q for the quarterly period ended Dec. 31, 1996.

The 10-Q shows the company with revenues over $3 million, and a net income of over $1 million for the six month period ended Dec. 31, 1996. The company's primary earnings results were a positive $.39 per share, up dramatically from the $1.70 per share loss from the corresponding period in 1995.

The increased revenues and resulting per share earnings for the quarterly period and six month period ended Dec. 31, 1996, are the results of increased sales and gains from the settlement of liabilities by the company.

Odyssey Pictures Corp. is a publicly held film distribution company, distributing films in international theatrical, television and video markets. Odyssey's strategy is to capitalize on its assets and the experience and reputation of its management to significantly expand the scale and scope of its activities in international film distribution.

In addition, the company plans to expand into other related areas, including overseas distribution of television programming, which will diversify the company's product base and increase the number of distribution outlets for its existing products. -0-

NOTE TO EDITORS: Information herein was derived from sources seeming to be reliable. No assurance can be made that the information is accurate. -0-

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