Image Entertainment reports increase in DVD revenues in first quarter of 1999

Today Image Entertainment announced their quarterly reports, showing an increase of 112% in the company’s DVD generated revenues as compared to last year’s first quarter. Image also stated that DVD revenues now account for 80% of the company’s business, also a substantial increase compared to last year’s first quarter.

Nevertheless, publicly traded Image Entertainment expects a loss of $.04 to $.05 per basic and diluted share for that quarter, mostly due to the negative impact on revenues and significantly higher personnel and shipping expenses (expedited order shipments) caused by the Las Vegas distribution system implementation problems.

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