Image expects best quarter since December 2005
Forecasts fiscal 2009 Q1 revenue over $31 million
By Susanne Ault -- Video Business, 7/9/2008
JULY 9 | Image Entertainment anticipates its fiscal 2009 first-quarter revenue to exceed $31 million, signaling a turnaround for the financially troubled supplier.
Those earnings would mark Image’s best quarterly revenue performance since the comparable frame in December 2005, according to the company.
Image will formally announce its first-quarter earnings, spanning the three months ended June 30, by Aug. 14.
Image’s first-quarter expectations would top its $26 million revenue showing for its recent fiscal 2008 fourth quarter, which was off 14% from revenue earned in the same period in fiscal 2007.
The supplier has been increasingly focusing on feature film straight-to-DVD releases to improve its business, which has been struggling through several quarters of net income losses. Image believes it will be profitable in fiscal 2009 and will generate net revenue between $115 million and $125 million.
