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IMAGE ENTERTAINMENT EXPECTS FIRST QUARTER PROFITS, REVENUES TO EXCEED PRIOR-YEAR'S FIRST QUARTER BY 60 PERCENT

 CHATSWORTH, Calif., June 3 /PRNewswire/ -- Image Entertainment Inc. (NASDAQ-NMS: DISK) today announced that it projects profits for the first quarter ending June 30, 1993. The company expects to report revenues of approximately $16 million for the quarter, up more than 60 percent from $9.8 million reported for the comparable fiscal 1993 quarter. The company reported a net loss of $1.7 million for the comparable fiscal 1993 quarter.
 Martin W. Greenwald, chief executive officer and president, stated, "In March, we began a comprehensive restructuring of the company and eliminated non-essential expenses. We also announced that the company would be taking a substantial charge against earnings in the fourth quarter ended March 31, 1993, relative to the restructuring plan. We are realizing benefits from the plan as gross profit margins improve and expenses decline."
 Greenwald added, "The shipping delays which we experienced during the last several months have also been resolved. Our new computerized picking and packing system is expected to further enhance efficiency. We also continue to pursue the exclusive licensing of new, marketable titles and to hone our sales and marketing efforts. We believe the acceptance of laserdisc entertainment continues to grow, and our dealers report strong sales."
 Image Entertainment Inc. is the largest licensee and distributor of programming on laserdisc in the United States, with an estimated 35 percent share of the domestic laserdisc market and the most extensive library of titles available in the industry. Image has exclusive licensing and distribution agreements with some of the most important suppliers of movies, music videos and specialty programming, including Disney's Buena Vista Home Video, FoxVideo, New Line Home Video, The Voyager Co., Orion, Playboy Home Video and Turner Home Video. The company's common stock trades on the NASDAQ National Market System (Symbol: DISK).
 -0- 6/3/93
 /CONTACT: Cheryl Lee, Esq., CAO and general counsel of Image Entertainment, 818-407-9100, ext. 256/
 (DISK)


CO: Image Entertainment Inc. ST: California IN: ENT SU: ERP

LS-DG -- LA055 -- 5260 06/03/93 20:57 EDT
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Publication:PR Newswire
Date:Jun 3, 1993
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