Access Integrated Technologies, Inc. Announces Fiscal 2008 Second Quarter Results

MORRISTOWN, N.J., Nov. 9 /PRNewswire-FirstCall/ — Access Integrated Technologies, Inc. (“AccessIT” or the “Company”) reported a 95% increase in revenues, to a record $19.5 million for the fiscal 2008 second quarter ended September 30, 2007, versus the year-ago period. In the quarter, the Company posted an Adjusted EBITDA(1) (defined below) of $6.9 million or $0.27 per basic and diluted share, and a net loss of $9.3 million or $0.37 per basic and diluted share. The net loss includes non-cash expenses for depreciation, amortization of intangible assets, non-cash interest, debt refinancing and stock-based compensation aggregating $10.4 million or $0.41 per basic and diluted share.