MCA Inc.: The Universal City-based movie and...

MCA Inc.: The Universal City-based movie and music company, which owns Universal Studios, reported that its profit was essentially flat in the first quarter, compared to the year-ago period in which the firm booked a one-time $10.5-million tax credit. MCA said it earned $27.3 million in the latest quarter, up 2%. Sales were $735.3 million, a gain of 20%. Sales and operating income rose in filmed entertainment, the company’s biggest division. Sales were up but operating income was off slightly in the music entertainment group. MCA’s retail and mail-order division lost money in what the company said was a seasonal phenomenon, and sales rose in the book publishing and toy divisions.