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FG Group Holdings Inc. (NYSE American: FGH) announced on March 30, 2023, the installation of 4K laser digital projection and Dolby Atmos immersive audio at the historic Prytania Theatre in New Orleans by Strong Technical Services. This upgrade aims to enhance the cinematic experience while preserving the theater's rich heritage. Travis Henning from Strong Technical Services emphasized the theater's legacy, which has served the community since 1914. The company is recognized for its expertise in providing audio-visual solutions and is positioned as a leader in the North American cinema sector, focusing on premium screen supply and technical support services.
FG Group Holdings reported a 53% increase in revenue for 2022, totaling $41.2 million, with a 54% rise in annual revenues from its entertainment segment. Q4 revenue was $11.8 million, up 17.4% year-over-year, driven by a recovering cinema industry. Despite a net loss from continuing operations of $7.2 million, net income improved to $1.4 million. The company is experiencing increased demand due to a shift from xenon to laser projection and successfully launched its Strong Studios business, generating $0.9 million in revenue. A public filing for an IPO of its entertainment business was also announced.
FG Group Holdings Inc. (NYSE American: FGH) announced it will release its fourth quarter and full-year financial results for 2022 on March 15, 2023, after market close. The financial results and a related slide presentation will be accessible on the Company's Investor Relations webpage. A conference call to discuss these results is scheduled for the same day at 5:00 PM ET. Interested parties can tune in via a webcast or phone. Following the live broadcast, a replay of the webcast will also be available.
FG Group Holdings operates primarily in the entertainment sector, providing services to the cinema industry and has recently expanded into content production.
FG Group Holdings Inc. (NYSE American: FGH) announced that its subsidiary, STRONG/MDI Screen Systems, will supply IMAX with seven premium cinema screens. These screens are set to be installed in Japan to support IMAX’s expansion of its advanced Laser systems this year. IMAX with Laser technology represents the company's latest innovation in immersive movie experiences, emphasizing superior image clarity and sound. François Barrette, Senior VP of STRONG/MDI, highlighted the collaboration as a significant step in reviving the movie industry post-pandemic and reinforcing their commitment to IMAX's global growth.
STRONG/MDI Screen Systems, Inc., a subsidiary of FG Group Holdings (NYSE American: FGH), will showcase its new HGA ReAct screen during the 2023 Munich Film Week from January 24-27, 2023. In collaboration with ECCO Cine Supply and Service, the screen aims to enhance cinematic experiences in partnership with Kinopolis. Kinopolis recognizes the significance of high-quality screens paired with modern laser projectors. This collaboration reflects STRONG/MDI's commitment to excellence in the cinema industry, bolstered by the recent establishment of a finishing facility in Belgium, allowing for improved distribution across Europe.