Moving iMage Technologies Reports Q1 Revenue of $5.6M, Gross Margin and Operating Expense Improvement

Moving iMage Technologies reported Q1 revenue of $5.6M, up 6.2% YoY, driven by a custom cinema project. Gross profit increased 22.0% to $1.7M, and gross margin percentage rose to 30.0% from 26.1% YoY. Operating income improved to $350k from a loss of ($68k) YoY, and net income increased to $509k from a loss of ($25k) YoY. The company acquired the Digital Cinema Speaker Series loudspeaker product line for $1.5M.