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Moving iMage Q1 revenue rises 9% on increased project activity

By Reuters News


Overview

  • US cinema technology provider's fiscal Q1 revenue rose 9% yr/yr on increased project activity

  • Fiscal Q1 net income fell yr/yr due to lower gross profit and absence of prior-year gain

  • Company expects lower revenue in fiscal Q2 due to typical cinema industry seasonality


Outlook

  • Company expects Q2 revenue of approximately $5.4 mln

  • Company notes Q2 is typically a period of lower cinema industry activity due to holiday season


Result Drivers

  • PROJECT ACTIVITY - Co said Q1 revenue growth was driven by increased project activity and customers accelerating delivery timelines

  • DCS PRODUCT SALES - DCS product sales contributed to Q1 revenue, with no contribution in the prior-year period

  • MARGIN PRESSURE - Gross margin declined due to lower sales of high margin accessories, higher costs on other accessories, and increased shipping costs, especially internationally


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q1 Revenue

$6.09 mln

Q1 Net Income

$181,000

Q1 Operating Income

$217,000


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For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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