Movie Gallery Inc. (fka MVGRQ)

[Teammoga]

Movie Gallery reports profit
By Cindy Spielvogel -- Video Business, 4/16/2008
APRIL 16 | Movie Gallery reported net income of $5.7 million on revenue of $177.2 million for the month ended March 9.

The required filing in U.S. Bankruptcy Court could signal the beginning of a turnaround for the company, whose reorganization plan has just been confirmed by the court.

Hollywood Entertainment division stores reported net income of $4.2 million on revenue of $117 million, while Movie Gallery-branded stores had $1.5 million in net income on $60.3 million in revenue for the month.

For the entire period since the company filed for bankruptcy Oct. 16, Movie Gallery reported a net loss of $85.4 million on $925.9 million in revenue.

Hollywood stores had a net loss of $93.5 million on $637.8 million in revenue since the bankruptcy was filed, while Movie Gallery stores had $8.1 million in net income on $288.1 million in revenue.

The company expects to emerge from bankruptcy this quarter.

http://www.videobusiness.com/article/CA6551934.html?desc=topstory