Moving iMage Technologies, Inc. - MITQ STOCK NEWS

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.

Moving iMage Technologies (NYSE: MITQ) will present at the Sidoti May Virtual MicroCap Conference on May 11, 2022, at 2:30 p.m. ET. Joe Delgado, executive vice president, will lead the presentation and hold one-on-one investor meetings on May 11-12, 2022. Interested parties can sign up for the meetings via the Sidoti conference portal or by contacting Brian Siegel at brian@haydenir.com. Moving iMage Technologies specializes in digital cinema technology and offers various products and services for entertainment applications.

Moving iMage Technologies (NYSE: MITQ), a leader in digital cinema technology, will present at the Planet MicroCap Showcase Investor Conference from May 3-5, 2022. Joe Delgado, executive vice president, is scheduled to speak on May 4, 2022, at 2:30 p.m. PT. Investors can access the presentation live via this link. One-on-one meetings will be held on May 5, 2022, with registration available through the conference portal or by contacting Brian Siegel at brian@haydenir.com.

Moving iMage Technologies (MITQ) has acquired QSC LLC's USL accessibility products, taking on sales, distribution, manufacturing, and servicing of these items. This acquisition supports MITQ's mission to enhance the cinematic experience for underserved communities, particularly the hearing and visually impaired. The USL product line, compliant with the Americans with Disabilities Act (ADA), aims to improve accessibility in movie theaters. Additionally, MITQ plans to introduce the MiTranslator service to assist non-English speakers in enjoying films. Terms of the acquisition were not disclosed.

Moving iMage Technologies (NYSE American: MITQ) has formed a strategic partnership with SNDBX to enhance the cinema experience through e-Sports. This collaboration enables MiT to expand into the gaming sector by offering portable gaming carts for cinema operators, optimizing their auditorium capacity and boosting concession sales. The companies will showcase the gaming technology at CinemaCon Las Vegas from April 25-28. SNDBX manages amateur gaming leagues utilizing cinema auditoriums, promoting a unique experience for local gamers.