Thursday, April 15, 2021

IMAX GROWS BIGGER

October 25, 2012 by · Leave a Comment 

IMAX, which is in the enviable position of being able to collect profits from several revenue streams, including providing IMAX cameras and other technology to producers; transferring 35mm film to the IMAX format; converting theaters to the giant-screen format; and collecting a percentage of ticket-sales from IMAX showings, reported strong earnings in its SEC third-quarter filing today (Thursday). Even as it pressed on with international installations of its equipment — 33 new IMAX theaters were completed in the quarter — the company reported profit of $15 million for the quarter versus $8.4 million for the same quarter a year ago, an increase of 79 percent. Revenue was up 20 percent to $80.7 million. “Our strong quarterly financial results once again demonstrate how much the IMAX business model has evolved,” IMAX CEO Richard Gelfond said in a statement. “We believe IMAX has become a story of growth and operating leverage, and our pipeline for future theater deals remains robust.”