Point.360 (PTSX) Reports Loss in Fourth Fiscal Quarter
Point.360 reported a net loss of $12.2 million, or $1.20 per share, in its fourth fiscal quarter. The company reported net income of $0.1 million, or $0.01, per share in the same quarter in 2008. Revenues came in at $11.0 million in the quarter, down slightly from the $11.4 million reported a year earlier. Gross margin came in at 28%, down from 24%. Haig S. Bagerdjian, the CEO of Point.360 said, “During fiscal 2009, we took significant steps to consolidate facilities and add service capabilities…. We also changed our information technology infrastructure to enable us to be fully functional in…