Rochester, NY 8/19/2009 6:08:28 AM
EDCI Holdings, Inc., EDCI - EDCI Holdings, Inc. Post Second Quarter Financial Results for Fiscal Year 2009
EDCI Holdings, Inc.
EDCI Holdings, Inc. the holding company for Entertainment Distribution Company, Inc. recently release second quarter financial results for the fiscal year 2009. EDCI Holdings, Inc. majority shareholder of Entertainment Distribution Company, LLC, a European provider of supply chain services to the optical disc market.
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"The mid-teen Disc volume decline that EDC's operations experienced in the 1Q2009 continued in the 2Q2009 and further highlighted the difficult environment under which EDC's Disc manufacturing and distribution business is operating," said Clarke H. Bailey, Chief Executive Officer. "Negative operating leverage from rapid Disc volume declines continues to hamper EDC's high fixed cost, moderate gross margin businesses. As Disc volume declines remain largely out of EDC's control, management's focus remains on controlling costs and right-sizing our operations to ensure we are maximizing cash flows."
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