Moving iMage sees best day ever as loss narrows, revenue doubles
09/02/2022 16:48
** Shares of digital cinema technology co MITQ.N up 31.25%
at $1.58, eyes best day on record
** Co's Q2 rev jumps ~113% y-o-y to $3.4 mln, while adj loss
narrows to 4 cents/shr from 7 cents/shr urn:newsml:reuters.com:*:nBw4T8Pysa
** MITQ benefited from cinema operators investing Cares Act
grants (SVOG) into technology and overall theater upgrades,
while continued strong recovery in domestic box office also
helped
** MITQ now expects fiscal 2022 revenue of at least $14 mln
to $16 mln, or 93% to 121% growth
** About 40.6 mln shares of the Fountain Valley,
California-based company have traded so far, ~30,901% of their
30-DMA volume
** Shares are now off 25% for the year
(Reporting by Devik Jain in Bengaluru)
((Devik.Jain@thomsonreuters.com; within U.S. +1 646 223 8780;
outside U.S. +91 80 6182 2062; ;))