Business NewsMarketWire • Seven Arts Reports Earnings per Share of $.78 for the Year Ended June 30, 2009

Seven Arts Reports Earnings per Share of $.78 for the Year Ended June 30, 2009

Seven Arts Reports Earnings per Share of $.78 for the Year Ended June 30, 2009

HOLLYWOOD, CA--(Marketwire - March 23, 2010) -  Seven Arts Pictures plc (NASDAQ: SAPX) (the "Company") announced today the filing of the Company's Annual Report on Form 20-F with the Securities and Exchange Commission, including audited financial statements prepared under International Financial Reporting Standards ("IFRS") certified by the Company's newly appointed independent auditors, RBSM LLP ("RBSM"). The financial statements cover the fiscal year ended June 30, 2009, the three-month stub period ended June 30, 2008, and fiscal year ended March 31, 2008. These financial statements represent the results of the Company's conversion to IFRS, as audited by RBSM, the Company's new United States-based independent public accountants, from United Kingdom Generally Accepted Accounting Principles, as audited by its UK-based prior auditors, Mazars LLP.

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