The digital cinema company seems to be managing its ambitious growth plans, but possibly not as quickly as investors would like. The company just reported a $5.2M net loss for the quarter ending in June, a 19.1% improvement from its loss in the period last year, on revenues of $20.9M, +15.9%. The revenue bump was primarily due to its recent acquisition of home video company New Video. Still, analysts predicted revenues of about $23.7M. The loss per share came in at 12 cents — including 8 cents from continuing operations — but both numbers missed analysts’ forecasts for just a 3 cent loss. Cinedigm says that its accomplishments in the quarter included the release of the investigative documentary The Invisible War, about women soldiers victimized by rape, as well as a mixed martial arts documentary Like Water, about UFC champion Anderson Silva. The company says it expects both films to be profitable. Cinedigm also reaffirmed its forecast to generate as much as $97M in revenue in the current fiscal year and as much as $59M in EBITDA, a measure of cash flow. CEO Chris McGuirk says that Cinedigm execs are “focused on profitably growing the entire business and making additional strategic investments to drive shareholder returns in fiscal year 2013 and beyond.” Company shares are -9.5% so far in 2012 and -16.8% for the last 12 months.
Subscribe to Deadline Breaking News Alerts and keep your inbox happy.