Image Puts Up Record Revenue in Third Quarter

Image Entertainment, a licensee, producer and distributor of home entertainment programming, reported third-quarter earnings of $2.3 million, or $0.11 per share on record revenues of $39.2 million compared with $1.9 million, or $0.10 per share on sales of $34.4 million a year ago. Earnings per share for the third quarter included an $0.08 charge due to the bankruptcy of Musicland Holding Corp., a former customer. Image’s President and CEO Martin W. Greenwald said in a press release that revenues were affected by a harsh retail environment in the first half of the fiscal year and the negative impact of the Musicland bankruptcy.