Moving iMage Technologies (MiT) Awarded Multi-Million Dollar Contract for State-of-the-Art Alamo Drafthouse Cinema in Indianapolis

Rhea-AI Summary

Moving iMage Technologies (NYSE American: MITQ), a leading tech and services firm for entertainment venues, announced a multi-million dollar contract for a new Alamo Drafthouse Cinema in Indianapolis.

Set to open in Summer 2024, the Georgetown location represents the 44th Alamo site equipped by MiT.

The project will feature MiT's proprietary products, including energy management solutions, bases, dimmers, automation systems, and ADA equipment.

Additionally, it will have cutting-edge 4K laser projection from Barco and comprehensive AV distribution and processing from QSC.

MiT will manage and integrate the project, ensuring optimal performance.

The opening will offer movie enthusiasts a state-of-the-art cinematic experience.

Positive

• MiT secured a multi-million dollar contract, reflecting strong financial growth.
• The project with Alamo Drafthouse increases MiT's footprint, marking the 44th site collaboration.
• Inclusion of MiT's proprietary products showcases their technological advancements and market reliability.
• Utilization of cutting-edge 4K laser projection enhances MiT's reputation in delivering high-quality visuals.
• Comprehensive AV distribution and processing ensure an immersive audio-visual experience, adding to the project’s appeal.

Negative

• The financial terms of the contract are not disclosed, creating uncertainty for investors.
• The project's success is contingent on timely completion and seamless integration, posing a potential risk.
• Dependence on partnerships like Alamo Drafthouse could limit MiT's market diversification.

Insights

Market Research Analyst

Moving iMage Technologies (MiT) securing a multi-million dollar contract with Alamo Drafthouse Cinema is a significant development. This partnership not only underscores MiT’s presence in the out-of-home entertainment market but also strengthens its position in the competitive cinema technology industry. For retail investors, this contract represents a validation of MiT's products and services, which are integral to Alamo’s premium dining and cinematic experience. The deployment of proprietary technology such as energy management solutions and cutting-edge 4K laser projection signifies MiT’s capability to deliver innovative and high-quality solutions. Furthermore, the involvement in comprehensive AV distribution and processing enhances their portfolio, making them a versatile player in the market.

Financial Analyst

The multi-million dollar contract with Alamo Drafthouse Cinema is likely to have a positive impact on MiT's financials. This deal should contribute significantly to their revenue stream, reflecting positively on their upcoming financial reports. The repeated collaborations with a rapidly expanding chain like Alamo Drafthouse indicate a stable and potentially growing source of income. Investors should be attentive to how this contract affects MiT’s margins and overall profitability. In addition, the successful execution of such projects could lead to further business opportunities, thereby enhancing long-term revenue prospects.

FOUNTAIN VALLEY, Calif.--(BUSINESS WIRE)-- Moving iMage Technologies (NYSE American: MITQ) (“MiT”), a leading technology and services company for cinema, Esports, stadiums, arenas and other out-of-home entertainment venues, today announced that it was awarded a new Alamo Drafthouse project for the new Georgetown location expected to open this Summer in Indianapolis, Indiana.

“The Georgetown location in Indianapolis is another example of our strong partnership with Alamo, one of North America's quickest-growing dine-in experience chains, and we’re excited to be a part of this new project,” said Joe Delgado, executive vice president, sales and marketing. “This state-of-the-art cinema is the 44th Alamo site equipped by MiT, promising an unparalleled cinematic experience for local audiences.”

Key highlights of the Alamo Georgetown include:

• A complete Suite of MiT’s proprietary manufactured products, including energy management solutions, bases, dimmers, automation systems and ADA equipment;
• Cutting-Edge 4K Laser Projection from Barco: 100% 4K laser projection powered by industry-leading technology, ensuring stunning visuals and immersive viewing experiences;
• Comprehensive AV Distribution and Processing: Equipped with full Q-sys AV distribution, processing and amplification from QSC to deliver crystal-clear audio throughout each screening, enhancing overall cinematic immersion;
• Expert Project Management and Integration: MiT's seasoned professionals oversee the project management, integration and installation processes, ensuring seamless execution and optimal performance of all systems.

Alamo Georgetown invites movie enthusiasts and industry professionals alike to experience the grand opening of Alamo Georgetown during the Summer of 2024, where they can witness firsthand the innovation and dedication behind MiT and Alamo’s latest endeavor.

About Moving iMage Technologies

MOVING iMAGE TECHNOLOGIES (NYSE American: MITQ) is a leading provider of technology, products, and services to the Motion Picture Exhibition industry and is expanding into live entertainment venues and Esports. We sell proprietary products, which we design and manufacture in-house, and are developing, introducing, and supporting a wide range of disruptive technologies that will bring SaaS and subscription-based products. Our Caddy brand of proprietary manufactured products is a leading provider of cup holders, trays, and other products to entertainment and sports venues. For more information, visit www.movingimagetech.com.

Forward-Looking Statements

All statements above that are not purely about historical facts, including, but not limited to, those in which we use the words “believe,” “anticipate,” “expect,” “plan,” “intend,” “estimate,” “target” and similar expressions, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. While these forward-looking statements represent our current judgment of what may happen in the future, actual results may differ materially from the results expressed or implied by these statements due to numerous important factors. Our filings with the SEC provide detailed information on such statements and risks and should be consulted along with this release. To the extent permitted under applicable law, we assume no obligation to update any forward-looking statements.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240605763133/en/

Moving iMage Technologies Investor Relations and Media Contacts:

Brian Siegel, IRC®, M.B.A.

Vice President, Strategic Communications and Investor Relations

Moving iMage Technologies

Senior Managing Director

Hayden IR

(346) 396-8696

brian@haydenir.com

Source: Moving iMage Technologies

FAQ

What is the latest project announcement by Moving iMage Technologies (MITQ)?

Moving iMage Technologies announced a multi-million dollar contract for a new Alamo Drafthouse Cinema in Indianapolis.

When is the Alamo Drafthouse Cinema in Indianapolis expected to open?

The Alamo Drafthouse Cinema in Indianapolis is expected to open in Summer 2024.

What unique products will MiT provide for the new Alamo Drafthouse Cinema?

MiT will provide proprietary products including energy management solutions, bases, dimmers, automation systems, and ADA equipment.

What technology will the new Alamo Drafthouse Cinema feature for visual experience?

The cinema will feature 100% 4K laser projection from Barco.

What type of audio-visual setup will MiT integrate in the new Alamo Drafthouse Cinema?

MiT will integrate comprehensive AV distribution and processing from QSC.

How many Alamo Drafthouse sites has MiT equipped so far?

MiT has equipped 44 Alamo Drafthouse sites, including the new project in Indianapolis.