As predicted, Die Another Day brings home the bacon for MGM share holders

Yahoo News are reporting, that as predicted by numerous movie and business moguls, "Die Another Day" has boosted MGM`s profits this quarter and turned the studio finances around.

The film studio generated net income of $58.7 million, or 24 cents a share in the fourth quarter behind solid box office receipts for James Bond movie "Die Another Day," which has raked in $160 million in U.S. and Canadian ticket sales and a total $375 million worldwide.

That compared with a year-ago net income of $39.1 million, or 16 cents per share.

The fourth quarter 2002`s results included a gain of $13.2 million, or 5 cents per share, from a settlement and a gain of $32.5 million from the sale of its share of cable TV network Bravo.

Revenues rose about 65 percent to $620.9 million from $375.5 million a year-earlier.

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