Image Entertainment Posts Profit of $861,293
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Image Entertainment Inc., a Chatsworth laser-disc distributor, reported that its profit surged in its fiscal third quarter ended Dec. 31, while revenue rose 42%, because of strong sales of the laser-disc versions of the movies “Fantasia,” “Dances With Wolves” and “The Silence of the Lambs.”
Image’s profit was $861,293 in the latest quarter, up from a $34,334 profit a year earlier. Revenue rose to $19.5 million from $13.8 million a year earlier.
In the nine months ended Dec. 31, Image earned $179,545, contrasted with a year-earlier loss of $478,382, and its revenue rose 26% to $42.1 million from $33.5 million.
Image also said it has started a new division to develop consumer-oriented software for a new electronic home-entertainment technology called the CD-ROM format.
Wendy Moss, former senior vice president and general manager of Hanna-Barbera Home Video, has been hired as general manager of the new division, Image said.
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