MOVING iMAGE TECHNOLOGIES INC. (NYSE: MITQ)

Moving iMage Technologies, Inc. is a key provider of technology products and services to movie theater operators and sports and entertainment venues. The company offers project management for new builds refurbishments and upgrades. It designs and manufactures proprietary products such as ADA compliant accessibility equipment and green energy lighting fixtures. It also resells third party equipment including screens projectors servers and furniture fixtures and equipment. Additionally the company provides software as a service platforms for quality control and multilingual translation as well as mobile carts for eSports gaming in theater auditoriums.

The company generates revenue primarily from project management fees for design integration installation and procurement services. Revenue also comes from the sale of its own manufactured products such as lighting dimmers power management systems and automation components. Additional revenue is derived from reselling third party cinema equipment including screens projectors media servers and furniture fixtures and equipment. The company also earns recurring fees from its software as a service offerings such as the CineQC quality control platform and the MiTranslator multilingual service. Finally revenue includes income from newly introduced products like the mobile eSports cart and Direct View LED screen installations.

Moving iMage Technologies Inc. competes with large cinema equipment dealers and numerous smaller regional suppliers. The company differentiates itself through its ability to provide in house design manufacturing and integration services under one roof. Its partnerships with major original equipment manufacturers such as Sharp NEC Barco Dolby GDC and Christie give it access to premium projectors and media servers. The firm’s green energy product line including LED fixtures and demand controlled ventilation systems helps customers reduce operating costs. A long history of working with major circuits like AMC Cinemark Cinepolis Cinemex Reading Metropolitan Hollywood Regal Syufy and Harkins provides a strong reference base and repeat business. The company’s backlog of contracted installations indicates steady future revenue visibility.

The company’s primary customers are movie theater exhibitors and sports and entertainment venue operators. It maintains long term relationships with major United States chains such as AMC Cinemark Cinepolis Cinemex Reading Metropolitan Hollywood Regal Syufy and Harkins. Internationally the company works with various theater operators in Europe Asia and Latin America. The top ten customers collectively accounted for approximately forty four percent of net revenue in the most recent fiscal year. No single customer represented more than ten percent of total revenue during that period.