$482,639 Loss Reported by Image Entertainment
Image Entertainment, a Chatsworth distributor of movies on laser discs, posted a $482,639 loss for its fiscal first quarter that ended June 30, contrasted with net income of $111,860 for the same quarter last year.
Sales during the quarter dropped 5%, to $9.7 million from $10.2 million last year.
Image previously had announced that it expected to report a loss for the latest quarter, partly because of a “recession in the video industry†and a “weak release schedule†of new movies that could be distributed on laser discs.
The biggest entertainment stories
Get our big stories about Hollywood, film, television, music, arts, culture and more right in your inbox as soon as they publish.
You may occasionally receive promotional content from the Los Angeles Times.
