Devine Entertainment Issues Revenue and Earnings Guidance for Q3 2007



    Company Forecasts Significant Revenue Increase of Approximately
    $5.5 Million and Earnings in Excess of $1 Million or $0.03 per Share for
    First Three Quarters of Fiscal 2007

    TORONTO, Sept. 21 /CNW/ - Devine Entertainment Corporation (OTCBB:DVNNF),
capitalizing on the global distribution of award-winning original film and
television content, has released revenue and earnings guidance for the first
three quarters of calendar year 2007. The forecast released today projects
significant revenue growth of $5.5 million (all figures are in Canadian
dollars), representing a 1600% increase over the $363,529 for the comparable
period in 2006. The Company also projects earnings in excess of $1 million for
the first three quarters of 2007, representing a significant increase over the
$529,614 loss reported for the same period in 2006. The projected revenue
growth reflects the success of Devine's business plan to develop, produce and
deliver original film and television content for the lucrative family and
mainstream entertainment marketplaces.
    The Company anticipates revenues of approximately $2 million for the
third quarter. Driving the Company's growth is the delivery of the fifth and
sixth episodes of its new prime-time television drama series, "Across the
River to Motor City," which has generated revenues in excess of $1.8 million
in the third quarter. The Company has forecasted earnings figures similar to
those reported in the second quarter 2007 of approximately $400,000, or
$0.01 per share for the third quarter 2007.
    The Company also anticipates earnings before interest, taxes,
depreciation and amortization (EBITDA) of over $0.10 per share for the nine
months ending September 30, 2007. Earnings for the nine months ending
September 30, 2007 are expected to increase to approximately $0.03 per share
as compared to a net loss of $529,614, or a loss of $0.01 per share, for the
same period in 2006.
    "Revenues and earnings continued to increase dramatically as a result of
the Company's focus on the post-production and delivery of the last two
episodes of the first season of the Company's new primetime mystery series,"
said David Devine, President and Chief Executive Officer of Devine
Entertainment. "We anticipate that Devine Entertainment will continue to grow
as we deliver on our mission to expand our production and distribution
capabilities as a sustainable means to building long-term shareholder value."
    Management anticipates revenues generated through planned monetization of
its proprietary library of films and television programs to grow modestly to
over $120,000 in the quarter, increasing from approximately $70,000 in the
previous quarter. Management also announced that it is actively in development
with a number of new primetime series., "Across the River to Motor City", will
premiere on the CITY-TV Network in Canada in the fourth quarter of 2007.

    About Devine Entertainment

    Devine Entertainment Corporation develops, creates, and produces
award-winning television programming and feature films for worldwide
distribution across multiple TV broadcast networks, cable and satellite
networks, DVD and Internet markets. Specializing in cultural and educational
programming as well as prime-time drama and comedy entertainment programming,
the Company's titles have garnered more than 120 international film and
television industry awards, including five Emmy and five Gemini Awards. The
Company partners with leading international distributors, broadcasters and
co-producers, such as Sony/BMG, Rogers Media and The Carrere Group of France,
to produce and distribute its award-winning film and television titles.
    Among Devine's critically-acclaimed productions are its cultural and
educational film series on history's landmark Composers', Inventors' and
Artists', which have been broadcast in more than 50 countries. The Company
continues to expand its proprietary library of high-quality film and
television content. Among its general-audience primetime programming is the
acclaimed one-hour mystery series, "Across the River to Motor City," delivered
to broadcasters worldwide in 2007. Headquartered in Toronto, the Company's
common shares trade on the NASD OTCBB market in the U.S. under the symbol
DVNNF. The Company's corporate website is www.devine-ent.com .

    For investor-specific information and resources, visit
    http://www.trilogy-capital.com/tcp/devine.

    To view current stock quotes and news, visit
    http://www.trilogy-capital.com/tcp/devine/quote.html.

    To view an investor fact sheet about the company, visit
    http://www.trilogy-capital.com/tcp/devine/factsheet.html.

    Forward-Looking Statements

    This press release may contain forward-looking statements relating to the
future performance of Devine Entertainment Corporation. Forward-looking
statements, specifically those concerning future performance and the
achievement of operating profitability are subject to certain risks and
uncertainties, and actual results may differ materially. These risks and
uncertainties include the market acceptance of the Company's products and
services; competition within the film and entertainment industry and the
introduction of new entrants and/or products in the Company's markets; adverse
changes in governmental regulations and policies affecting the film and
entertainment industry; product development risks and risks of technological
change; the risk of unanticipated expenses; and other risks and uncertainties
all as described in the disclosure documents filed with securities regulatory
authorities in accordance with applicable securities laws. Readers are
cautioned that the foregoing list of factors is not exhaustive. Although the
Company believes that the expectations conveyed by the forward-looking
statements are reasonable based on information available to it on the date
such forward-looking statements are made, no assurances can be given as to
future results, levels of activity and achievements. All subsequent
forward-looking statements, whether written or oral, attributable to the
Company or persons acting on its behalf are expressly qualified in their
entirety by these cautionary statements. The Company assumes no obligation to
update forward-looking statements should circumstances or management's
estimates or opinions change.

    EBITDA is a non-GAAP financial measure. Management believes EBITDA to be
a meaningful indicator of the Company's performance that provides useful
information to investors regarding the Company's financial condition and
results of operations. EBITDA is a non-GAAP financial measure commonly used in
the entertainment industry and by financial analysts and others who follow the
industry to measure operating performance. While management considers EBITDA
to be an important measure of comparative operating performance, it should be
considered in addition to, but not as a substitute for, net income and other
measures of financial performance reported in accordance with GAAP. EBITDA
does not reflect cash available to fund cash requirements. Not all companies
calculate EBITDA in the same manner and the measure as presented may not be
comparable to similarly-titled measures presented by other companies. EBITDA
is not used by the Company as a performance indicator for the evaluation of
management or employee performance and any related remuneration or bonuses.





For further information:

For further information: Devine Entertainment Corporation, Arnold
Tenney, Richard Mozer, (416) 364-2282, Toll-free: (877) 338-4633; Trilogy
Capital Partners, Financial Communications: Ryon Harms, Toll-free: (800)
592-6067, ryon@trilogy-capital.com

Organization Profile

DEVINE ENTERTAINMENT CORPORATION

More on this organization


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890