Image Entertainment Projects Strong Third Quarter

Image Entertainment, Inc., a Chatsworth-based independent licensee, producer and distributor of home entertainment programming, has announced that for its fiscal 2005 third quarter ended December 31, 2004, it expects net revenues to exceed $33 million, compared to $22.8 million in the same quarter last year. The company did not state its expectations for third quarter earnings, but claims that it will be in the black. In the comparable period last year, Image reported $7.2 million in losses. Image also increased its fiscal 2005 net revenue guidance from a range of $107-$112 million to a range of $114-$117 million, an increase of 34-38 percent over fiscal 2004 net revenue. The company attributed this gain to significantly stronger than expected sales.