Movie Gallery's Profits Up
By Alabama Public Radio
Dothan, AL – Dothan-based Movie Gallery says its first-quarter profit edged up slightly from 2004 as an increase in the number of stores bolstered revenue. Movie Gallery recently purchased rival Hollywood Entertainment. The video rental company is now second only to Blockbuster. It reported earnings of $18.4 million, or 58 cents per share, in the three months that ended in April. That's compared with $18.3 million, or 54 cents per share, in the 2003 period. The company also reports its revenue rose 13 percent to almost $234 million from $203.3 million in 2004. The quarter's results did match Wall Street's expectations. The company attributed the rise in revenue to a 14 percent increase in the average number of stores it operated during the quarter.