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Image Thrown for Big Loss

10 Nov, 2005 By: Erik Gruenwedel

As expected, Image Entertainment cited “a difficult retail environment” as the primary cause for posting a second-quarter (ended Sept. 30) loss of $613,000 compared to net income of $1.2 million during the same period last year.

Revenues fell $4.9 million to $23.7 million while expenses increased 3.4 percent to 11.3 percent based largely on legal expenses related to Lions Gate Entertainment's failed acquisition offer and separate arbitration proceedings against a content supplier.

Image remains upbeat to meet guidelines through its fiscal year ending March 31, 2006.

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