IMAX BOASTS RECORD-SETTING QUARTER

IMAX’s third quarter revenue and profits turned out to be as big as its screens. The company today (Thursday) said that adjusted net income rose 12.2 percent to $11 million from $9.8 million for the same quarter a year ago on record third-quarter revenue of $67.5 million, up 32 percent from $51.1 million last year. In a you-aint-seen-nothing-yet statement, IMAX CEO Richard Gelfond observed that the company was “still very early on in our international network expansion” and that IMAX’s long-term success is being secured by its ability to develop and acquire new technology, such as the recent deal to secure exclusive rights to Kodak’s laser technology. Said Gelfond: “Our upcoming lineup of films is shaping up to be an exciting one for IMAX audiences, beginning with a five-day preview of Paramount’s Mission: Impossible — Ghost Protocol: The IMAX Experience, and continuing into 2012 with key franchise titles including The Amazing Spider-Man, The Hobbit: An Unexpected Journey, and The Dark Knight Rises, which is currently being filmed using IMAX cameras.”