Image Posts Wider Losses

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Image Entertainment Inc. reported a second quarter net loss of $3.8 million (-18 cents per share) a big increase over a loss of $613,000) (-3 cents) for the same period a year earlier.


Revenue for the Chatsworth-based movie distribution company was also down 3.8 percent to $22.8 million, which Image Chief Executive Martin Greenwald attributed to “two bankruptcy filings and closures of two significant Image customers, Musicland in January and Tower Records in August.”


Fees associated with the closures and Lions Gate Entertainment Inc.’s constant attempts to buy the company also cost more than $1 million.

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