UPDATE 1 Imax Q3 profit up on box office gains
Post on: 2011-11-02 By: admin
Oct 27 (Reuters) - Imax Corpreported a 25
percent rise in third-quarter profit, driven mainly by strong
box office revenue.
"This was our highest-grossing box office quarter since the
first quarter of 2010," Chief Executive Richard Gelfond said in
a statement.
For the July-September period, the giant movie screen
maker's net income rose to $8.4 million, or 12 cents a share,
from $6.7 million, or 10 cents a share, a year ago.
On an adjusted basis, it earned 16 cents a share.
Revenue rose 32 percent to $67.5 million.
The company said it expects to record a gain of $3.4 million
from foreign exchange in the fourth quarter if the Canadian
dollar continues to be strong versus the U.S. dollar.
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