DISK..Image Entertainment, Inc. Reports Fourth Quarter 1999 Earnings Reach $.06 per Share Versus a Loss of $.76 per Share in 1998
1999 Fiscal Year Earnings are $.12 per Share Compared to a Loss of $.71 per Share in 1998 This could be good enough to move the stock but as it is a new stock, it should be watched for any unusual activity. It already had a 20% increase in volume, nothing at all spectacular.
-- DVD Revenues up 192% for the Fiscal Year -- Gross Profit Margins Expand to 24.8% for the Fourth Quarter and
23.9% for the Fiscal Year -- Las Vegas Facility Update
Image Entertainment, Inc. (NASDAQ NM: DISK - news), one of the leading licensees and distributors of optical disc programming (DVD and laserdisc) in North America, today reported financial results for its fourth quarter and fiscal year ended March 31, 1999.
Net sales for its fourth quarter ended March 31, 1999 were $23,037,000, an increase of 45% from net sales of $15,905,000 for the prior-year fourth quarter ended March 31, 1998, and an increase of 1% compared to December 1998 quarter revenues of $22,715,000. Gross profit margins for the March quarter expanded to 24.8%, up from 23.8% for the December 1998 quarter. Operating income for the March 1999 quarter was $1,369,000 compared to an operating loss of $10,454,000 for the March 1998 quarter, and compared to an operating profit of $1,474,000 for the December 1998 quarter. Net income for the March 1999 quarter was $1,059,000, or $.07 per basic and $.06 per diluted share, compared to a net loss of $10,293,000, or $.76 per basic and diluted share, for the March 1998 quarter, and net income of $1,129,000, or $.08 per basic and diluted share, for the third quarter ended December 31, 1998. Net sales for the March 1999 quarter include 79 days of net sales (since the January 11, 1999 acquisition date) of the Company's subsidiary Ken Crane's. |
