Image Entertainment Reports Turnaround

Image Entertainment Inc., a Chatsworth laser disc distributor, reported profits for its third quarter and nine months compared to year-earlier losses. It attributed the turnaround to lower expenses, increased sales of more profitable products and tighter inventory controls.

In its fiscal third quarter ended Dec. 31, Image earned $824,338, in contrast with a loss of $875,961 a year before. Its sales grew 11% in the third quarter, to $18.3 million from $16.6 million a year before.

The company’s nine-month profit was $2.71 million, while its sales for the period rose 25% to $54.2 million. A year earlier, Image lost $3.17 million on $43.3 million in sales.