Harmony Holdings Loss Soars on Restructuring

Harmony Holdings Inc., a Burbank producer of television commercials and music videos, reported that its losses widened in its latest quarter and six months, partly due to a $500,000 restructuring charge.

In its fiscal second quarter ended Dec. 31, Harmony lost $1.19 million, in contrast with a year-earlier loss of $372,636. Its revenue rose 58%, to $9.53 million from $6.1 million.

Harmony’s six-month loss was $1.99 million, more than double the $769,920 loss in the year-ago period. Its revenue was $19.7 million, a 93% gain from $10.2 million in revenue a year before.