$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.