SOURCE: Peace Arch Entertainment Group Inc.

April 18, 2007 17:32 ET

Peace Arch Recaps Successful Investor Conference Call Following Q2 Revenues of $20.3 Million

TORONTO -- (MARKET WIRE) -- April 18, 2007 -- Peace Arch Entertainment Group Inc. (AMEX: PAE) (TSX: PAE), an innovative film and television entertainment company, held its quarterly investor conference call today to discuss the second quarter of fiscal 2007 results. Peace Arch had reported record revenues of $20.3 million for Q2 2007 with net earnings of $2.2 million, or $0.06 per diluted share in the second quarter, compared to a net loss of $(0.7) million, or $(0.04) per diluted share for the same period last year.

During the conference call John Flock, President of Peace Arch Entertainment Group, outlined the Company's positive Q2 results. "Our financials showed some very encouraging results this quarter that demonstrate the progress we've made over the past year and validate our strategy for growth and increasing value for our shareholders."

Mr. Flock also recapped several milestone achievements for Peace Arch during the conference call, including the successful premiere of two critically acclaimed movies at the Sundance Film Festival, Showtime's recent renewal of the television series "The Tudors" for a second season, and the licensing of the Company's feature film "Animal 2" to Genius Products.

Peace Arch's audited financial statements for the fiscal year ended August 31, 2006 can be found in our most recent Form 20-F filing. Pursuant to Sec. 610 of the American Stock Exchange's rules, and as previously disclosed in Peace Arch's prior filings with the U.S. Securities and Exchange Commission, the Company's audit opinion for the year ended August 31, 2006 contained a going concern qualification.

About Peace Arch Entertainment Group Inc.

Peace Arch Entertainment produces and acquires feature films, television and home entertainment content for distribution to worldwide markets. Peace Arch owns one of the largest libraries of top quality independent feature films in the world, featuring more than 500 classic and contemporary titles. Through its subsidiary, Peace Arch Home Entertainment, Peace Arch is also one of the leading distributors of DVDs and related products in Canada. For additional information, please visit www.peacearch.com.

For more investor-oriented information about Peace Arch Entertainment, visit http://www.trilogy-capital.com/tcp/peace-arch/. For current stock price quotes and news, visit http://www.trilogy-capital.com/tcp/peace-arch/quote.html. To view an Investor Fact Sheet, visit http://www.trilogy-capital.com/tcp/peace-arch/factsheet.html. To read a transcript of a recent Peace Arch investor conference call or listen to an archived recording, please visit http://www.trilogy-capital.com/tcp/peace-arch/conference.html.

Forward-Looking Statements

This press release includes statements that may constitute forward-looking statements, usually containing the words "believe," "estimate," "project," "expect," or similar expressions. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, continued acceptance of the Company's products and services in the marketplace, competitive factors, dependence upon third-party vendors, availability of capital and other risks detailed in the Company's periodic report filings with the Securities and Exchange Commission. By making these forward-looking statements, the Company undertakes no obligation to update these statements for revisions or changes after the date of this release.

Contact Information

  • Contact:

    Roy Bodner
    Vice President Public Relations
    Peace Arch Entertainment
    (310) 776-7208

    Or

    Financial Communications
    Trilogy Capital Partners
    Ryon Harms
    (800) 592-6067