<PAGE>
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 10-Q/A
AMENDMENT NO. 1
[X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED DECEMBER 31, 1996
OR
[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OF 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934 For The Transition Period from ................ to
.................
Commission File Number 0-11071
IMAGE ENTERTAINMENT, INC.
(Exact name of registrant as specified in its charter)
California 84-0685613
---------- ----------
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification Number)
9333 Oso Avenue
Chatsworth, California 91311
----------------------------
(Address of principal executive offices, including zip code)
(818) 407-9100
--------------
(Registrant's telephone number, including area code)
Securities registered pursuant to Section 12(b) of the Act: None
Securities registered pursuant to Section 12(g) of the Act: Common Stock, no
par value
Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the preceding 12 months (or for such shorter period that the registrant was
required to file such reports), and (2) has been subject to such filing
requirements for the past 90 days. Yes (X) No ( )
Number of shares outstanding of the registrant's common stock on February 5,
1997: 13,114,773
<PAGE>
EXPLANATORY NOTE
This Amendment No. 1 to the Company's Quarterly Report on Form 10-Q for the
quarter ended December 31, 1996 is being filed for the purpose of filing the
corrected Exhibit 27, Financial Data Schedule which was flawed in the original
filing of such report due to filing agent error.
2
<PAGE>
- --------------------------------------------------------------------------------
SIGNATURES
- --------------------------------------------------------------------------------
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
IMAGE ENTERTAINMENT, INC.
Date: February 12, 1997 By: /s/ MARTIN W. GREENWALD
------------------------
Martin W. Greenwald,
Chairman of the Board, Chief Executive Officer,
President and Treasurer
Date: February 12, 1997 By: /s/JEFF M. FRAMER
-----------------
Jeff M. Framer,
Chief Financial Officer
3
<TABLE> <S> <C>
<PAGE>
<ARTICLE> 5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM FORM 10-Q
DECEMBER 31, 1996 AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH
FINANCIAL STATEMENTS.
</LEGEND>
<S> <C>
<PERIOD-TYPE> 9-MOS
<FISCAL-YEAR-END> MAR-31-1997
<PERIOD-START> APR-01-1996
<PERIOD-END> DEC-31-1996
<CASH> 1,131,623
<SECURITIES> 0
<RECEIVABLES> 19,303,504
<ALLOWANCES> 4,642,000
<INVENTORY> 19,612,382
<CURRENT-ASSETS> 0<F1>
<PP&E> 10,992,132
<DEPRECIATION> 3,747,178
<TOTAL-ASSETS> 53,549,566
<CURRENT-LIABILITIES> 0<F1>
<BONDS> 0
0
0
<COMMON> 18,813,582
<OTHER-SE> 800,051
<TOTAL-LIABILITY-AND-EQUITY> 53,549,566
<SALES> 62,855,934
<TOTAL-REVENUES> 62,855,934
<CGS> 49,581,725
<TOTAL-COSTS> 49,581,725
<OTHER-EXPENSES> 2,307,550
<LOSS-PROVISION> 1,154,017
<INTEREST-EXPENSE> 226,106
<INCOME-PRETAX> 1,820,611
<INCOME-TAX> 417,000
<INCOME-CONTINUING> 1,403,611
<DISCONTINUED> 0
<EXTRAORDINARY> 143,308
<CHANGES> 0
<NET-INCOME> 1,260,303
<EPS-PRIMARY> .09
<EPS-DILUTED> 0<F2>
<FN>
<F1> The Company has an unclassified balance sheet due to the nature of its
industry.
<F2> Not presented since the amounts do not differ significantly from the
primary net income per share.
</FN>
</TABLE>
