Movie Gallery reports $27.04 million operating income for month ended Jan. 6

By Caroline Salls

Pittsburgh, Feb. 12 - Movie Gallery, Inc. reported a $27.04 million operating income for the month ended Jan. 6 on $253.55 million in revenues, according to its monthly operating report filed Monday with the U.S. Bankruptcy Court for the Eastern District of Virginia.

The figures show significant improvement over a $25.25 million operating loss for the month ended Dec. 2 on $178.08 million in revenues.

The net income for the latest period was $12.67 million, narrowing from a $36.44 million net income the month before.

Cash and cash equivalents at Jan. 6 were $54.43 million, compared with $13.69 million at Dec. 2.

Movie Gallery, a Dothan, Ala.-based video rental company, filed for bankruptcy on Oct. 16. Its Chapter 11 case number is 07-33849.

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