Movie Gallery (MOVI) surged 13% early Tuesday after the video rental chain posted a third-quarter revenue gain.
The Dothan, Ala., company said revenue for the quarter ended Oct. 1 rose 1.8% from a year ago to $583 million, beating the $556 million Thomson Financial analyst consensus estimate. Same-store revenue fell 0.4%, with a 3% gain at Movie Gallery stores being offset by a 1.9% decline at Hollywood stores.
Movie Gallery also said it is postponing the reporting of its third quarter financial results and the filing of its quarterly report on Form 10-Q to review its lease accounting.
Shares rose 32 cents to $2.69.