Image Entertainment Inc. narrowed its net loss in the first quarter when compared to the same period from a year ago.
The Chatsworth-based distributor and producer of home entertainment content reported a loss of $485,000 on revenue of $23.3 million for the quarter ending June 30. In the same period in 2011, Image reported a loss of $1.8 million, or $0.01 per diluted share, on revenue of $23.3 million.
During the second quarter, Image had an increase in sales for its DVDs and Blu-ray discs to $19.6 million from $17.5 million in the same period in the prior year.
Digital distribution, a typically strong sector for the company, showed a decrease in sales during the second quarter to $2.1 million from $3.3 million in the prior year.
Contributing to the quarterly financials were lower supply chain costs and a favorable mix of higher-margin catalogue revenue, said COO/CFO John Avagliano.
Mark R. Madler