Point.360 Acquires the Assets of Moving Images NY LLC

Point.360 Acquires the Assets of Moving Images NY LLC

BURBANK, Calif., April 9 /PRNewswire-FirstCall/ -- Point.360 (NASDAQ: PTSX), a leading provider of integrated media management services, today announced that it had acquired the assets of Moving Images NY LLC, doing business as MI Post. MI Post is engaged in editing, graphics and other post production activities serving entertainment and advertising customers in New York City.

Haig S. Bagerdjian, the Company's Chairman, President and Chief Executive Officer said: "The acquisition of MI Post provides us with an opportunity to expand our services to New York based clients and gives us an East Coast location to better meet our large studio customers' needs. We intend to expand our New York presence in the future."

The Company indicated that it paid approximately $800,000 for MI Post, $300,000 in cash and $500,000 through the assumption of capital equipment lease obligations. The Company expects MI Post to contribute approximately $2 million of annual sales to its existing customer base.

About Point.360

Point.360 is a value add service organization specializing in content creation, manipulation and distribution processes integrating complex technologies to solve problems in the life cycle of Rich Media. With seven locations in greater Los Angeles and New York, Point.360 performs high and standard definition audio and video post production, creates virtual effects and archives and distributes physical and electronic Rich Media content worldwide, serving studios, independent producers, advertising agencies, corporations, non-profit organizations and governmental agencies. Point.360 provides the services necessary to edit, master, reformat and archive clients' audio and video content, including television programming, feature films and movie trailers.

Point.360's interconnected facilities provide service coverage to all major U.S. media centers. Clients include major motion pictures studios, advertising agencies and corporations.

Forward-looking Statements

Certain statements in Point.360 press releases may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, without limitation (i) statements concerning the Company's projected revenues, earnings, cash flow and EBITDA; (ii) statements of the Company's management relating to the planned focus on internal growth and acquisitions; (iii) statements concerning reduction of facilities and actions to streamline operations; (iv) statements on actions being taken to reduce costs and improve customer service and (v) statements regarding new business and new acquisitions. Please also refer to the risk factors described in the Company's SEC filings, including its annual reports on Form 10-K. Such statements are inherently subject to known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements of the Company to be materially different from those expected or anticipated in the forward-looking statements. In addition to the factors described in the Company's SEC filings, the following factors, among others, could cause actual results to differ materially from those expressed herein; (a) lower than expected net sales, operating income and earnings; (b) less than expected growth; (c) actions of competitors including business combinations, technological breakthroughs, new product offerings and marketing promotional successes; (d) the risk that anticipated new business may not occur or be delayed; (e) the risk of inefficiencies that could arise due to top level management changes and (f) general economic and political conditions that adversely impact the Company's customers' willingness or ability to purchase or pay for services from the Company. The Company has no responsibility to update forward-looking statements contained herein to reflect events or circumstances occurring after the date of this release.

Source: Point.360

CONTACT: Alan Steel, Executive Vice President of Point.360,
+1-818-565-1444

Web Site: http://www.point360.com/

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