SOURCE: Seven Arts Pictures plc

Seven Arts Pictures plc

August 19, 2010 13:45 ET

Seven Arts Announces Nine Month Earnings

HOLLYWOOD, CA--(Marketwire - August 19, 2010) -  Seven Arts Pictures plc (NASDAQ: SAPX) announced revenues of $3,924,402 and net profits of $1,079,859 for the nine months ended March 31, 2010. Earnings per share were calculated at $0.15 a share. A comparison to previous year's earnings is unavailable as the Company is a foreign private issuer and was not required to report quarterly earnings for 2009 nor for this year. Efforts are being made by the Company to comply with US rules on financial reporting as the Company completes the transfer of operations to US soil. Comparisons will be available for next year's earnings.

Peter Hoffman, CEO of Seven Arts, commented, "Seven Arts is pleased with our nine month earnings and we feel we are on track. We will continue to seek out opportunities to create valuable films that can benefit from our expertise in tax credits and sophisticated financing structures."

About Seven Arts:

Seven Arts Pictures plc ("SAP," "7 Arts" or the "Company") was founded in 2002 as an independent motion picture production and distribution company engaged in the development, acquisition, financing, production, and licensing of theatrical motion pictures for exhibition in domestic (i.e., the United States and Canada) and foreign theatrical markets, and for subsequent worldwide release in other forms of media, including home video and pay and free television.

Cautionary Information Regarding Forward-Looking Statements:
Forward-looking statements contained in this press release are made under the Safe Harbor Provision of the Private Securities Litigation Reform Act of 1995. Any such statements are subject to risks and uncertainties that could cause actual results to differ materially from the anticipated.

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