Moving Image Technologies Inc - MITQ STOCK NEWS

Moving iMage Technologies (AMEX: MITQ) announced that Joe Delgado, Executive Vice President of Sales and Marketing, will present at the MicroCap Rodeo's Windy City Roundup Conference 2022.

Presentation Date: Thursday, October 13, 2022 at 10:30 a.m. ET.

One-on-one meetings will take place on October 12 and 13, 2022. Interested parties can sign up through the conference portal or contact Brian Siegel at Hayden IR.

Moving iMage is a leading provider of technology for entertainment applications, focusing on motion picture exhibition and offering various products and services.

Moving iMage Technologies (MITQ) reported a 152% revenue growth for fiscal 2022, totaling $18.4 million, with a 166.7% increase in the fourth quarter. Despite this growth, the company faced a GAAP net loss of $1.4 million. For fiscal 2023, it anticipates a revenue target of $22.0 to $23.5 million, reflecting a 20% to 28% growth and aims for a non-GAAP EPS of $0.04 to $0.08. The company continues to leverage its backlog of projects and new product launches, including the CineQC SaaS platform.

Moving iMage Technologies (MITQ) will release its financial and operational results for the Fourth Quarter and Full-Year Fiscal 2022 on September 23, 2022, at 7:00 AM ET. The results will be available on their investor relations website. A conference call will take place at 11:00 AM ET the same day, allowing investors to submit questions in advance or during the webcast. Replay details for the call will be available following the event. MITQ specializes in technology solutions for entertainment applications, focusing on motion picture exhibitions.

Moving iMage Technologies (NYSE: MITQ) announced a subscription agreement with National Amusements to implement its CineQC Software-as-a-Service (SaaS) platform across North America. National Amusements operates 806 screens globally, with 291 in North America. The CineQC platform aims to enhance operational efficiency and productivity, promising a significant return on investment within the first year. It integrates secure Near-field communication technology for streamlined monitoring and reporting of cinema operations, ensuring both quality assurance and operational excellence.

Moving iMage Technologies (NYSE American: MITQ) announced a three-year exclusive purchase agreement with Alamo Drafthouse Cinemas for Barco SP4k laser projectors. This collaboration aims to enhance the moviegoing experience with improved picture quality through superior contrast and brightness. Additionally, the projectors promise operational savings in lamp and power usage for Alamo Drafthouse. The Barco SP4k projectors feature native 4K resolution and image management technology, indicating a strategic move amidst a technology upgrade cycle in the industry.

Moving iMage Technologies (AMEX: MITQ) has initiated a share repurchase program allowing for the buyback of up to $1 million worth of common stock over the next year. CEO Phil Rafnson highlighted the disparity between the company's solid fundamentals—reporting nearly $1 per share in cash and expected revenue growth of 155-169% for fiscal 2022—and its current stock price, which he views as undervalued. The company plans to execute the buybacks at its discretion based on market conditions.

Moving iMage Technologies (MITQ) announced that Joe Delgado, executive vice president, will present at the LD Micro Invitational XII from June 7-9, 2022. Delgado's presentation is scheduled for June 8 at 10:30 a.m. Eastern Time. Investors can participate in one-on-one meetings on June 7 and 8. Interested parties can sign up through the LD Micro conference portal or contact Brian Siegel at Hayden IR. Moving iMage Technologies specializes in digital cinema technology and provides various products and services for the entertainment industry.

Moving iMage Technologies (MITQ) reported a remarkable 241% increase in revenue, reaching $5.8 million for the third fiscal quarter ended March 31, 2022. The company achieved a GAAP net income of $0.6 million and diluted EPS of $0.06, compared to a net loss of ($0.2 million) last year. The non-GAAP net loss decreased to ($0.1 million) with an improved loss per share of $0.00. Additionally, MITQ raised its fiscal 2022 revenue guidance to $17.5 to $18.5 million, indicating significant growth potential.

Moving iMage Technologies (NYSE American: MITQ) will announce its Third Quarter Fiscal 2022 financial results on May 16, 2022 at approximately 4:10 p.m. ET. The earnings release will be accessible via their investor relations site. A webcast to discuss the results is scheduled for May 17, 2022, at 11:00 a.m. ET. Investors can submit questions ahead of time to brian@haydenir.com. Replay information will be available starting May 17, 2022, at 2:00 p.m. ET.