SOURCE: Seven Arts Pictures plc

Seven Arts Pictures plc

June 23, 2010 15:04 ET

Seven Arts Announces Six Month Interim Results: Significant Year Over Year Improvement

HOLLYWOOD, CA--(Marketwire - June 23, 2010) -  Seven Arts Pictures plc (NASDAQ: SAPX) announced revenues of $2,982,976 and net profits of $518,731 for the six months ended December 31, 2009. Results compare to revenues of $1,700,905 and net loss of ($2,504,077) in the same period in the previous year. The Company will hold a conference call at 11:00 a.m. Eastern Time on Thursday, June 24, to discuss the earnings results and the future outlook of the Company.

Shareholders and interested parties in the US and Canada can participate by dialing in to (888) 223 - 7052. Foreign participants can dial in to (706) 902 - 0505. In order to join this conference call, all speakers and participants will be required to provide the Conference ID Number, # 83097829. A replay of the conference call will be available one hour after completion of the call.

Seven Arts also announced that it has negotiated an extension of its loan with Trafalgar Capital Specialized Investment Fund ("Trafalgar"). Trafalgar has agreed to extend the maturity date of the loan to December 31, 2010.

Peter Hoffman, CEO of Seven Arts, commented, "Seven Arts is happy to report that the 2009 six month interim earnings were significantly improved over the six months ended December 31, 2008. I look forward to updating shareholders and the investment community on the outlook for Seven Arts."

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.

Contact Information