Moving iMage Technologies jumps as Q1 revenue nearly doubles
12/11/2021 11:57
** Shares of digital cinema technology co MITQ.N up 14.8%
pre-market to near one-month high at $3.1
** Co's Q1 revenue nearly doubles to $3.5 mln; reports loss
of 4 cents per share urn:newsml:reuters.com:*:nBw2fzYPca
** MiT benefited in quarter from several tailwinds,
including strong signs from consumers and theater operators that
we are in the very early stages of recovering from the effects
of the pandemic; in addition to a nascent cinema technology
upgrade cycle - chief executive Phil Rafnson
** As of Thursday's closing price, stock trades about 7%
below its 50-day moving average of $2.9
** Stock has lost 88.8% since its IPO in July this year
(Reporting by Shashank Nayar in Bengaluru)
((Shashank.Nayar@thomsonreuters.com; within U.S. +1 646 223
8780; outside U.S. +91 80 6182 2256;))