May 6, 2008 / 10:04 PM / in 10 years

UPDATE 1-Sliding DVD volumes, prices hit Cinram results

(Adds details, unit price; in U.S. dollars unless noted)

TORONTO, May 6 (Reuters) - Cinram International Income Fund CRW_u.TO, the world’s largest provider of prerecorded media products, swung to a first-quarter loss on Tuesday, as lower DVD volumes and prices dragged on results.

Cinram, which said in November it would suspend payouts to investors, said it lost $3.4 million, or 6 cents per unit, in the three months to March 31. That was down from a profit of $7.2 million, or 12 cents a unit, a year earlier.

Total revenue dropped to $406.6 million from $443.9 million, Cinram said.

Cinram, which brings in most of its top line from producing DVDs and high-definition discs, said it replicated 262 million DVDs in the first quarter, down from 305 million a year earlier.

Revenue from its CD segment fell 13 percent to $47.4 million, Cinram said.

It added it finalized plans to close a printing facility in Vernon, California, during the quarter and that it incurred total costs of $3.6 million related to the move.

Cinram reported its results after markets closed. During the day, its units fell 24 Canadian cents to finish at C$6.32 on the Toronto Stock Exchange. Last July, they were trading at C$30. ($1=$1.00 Canadian) (Reporting by Wojtek Dabrowski; editing by Rob Wilson)

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