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Published on 3/18/2008 in the Prospect News Distressed Debt Daily.

Movie Gallery posts $17.84 million operating income for Jan. 7 to Feb. 10

By Caroline Salls

Pittsburgh, March 18 - Movie Gallery, Inc. reported a $17.84 million operating income for the period of Jan. 7 to Feb. 10 on $199.87 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 showed a decline over a $27.04 million operating income for the month ended Jan. 6 on $235.55 million in revenues.

The net loss for the latest period was $469,000, down from a $12.67 million net income the month before.

Cash and cash equivalents on Feb. 10 were $55.65 million, compared with $54.43 million at Jan. 6.

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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