Imax Reports Record 2019 With $396 Million in Revenue
On top of having a record year at the box office and in terms of revenue in 2019, Imax Corp. reported earnings for the fourth quarter on Wednesday that were above Wall Street’s expectations. Imax reported net income for the quarter of $18.2 million, up 973% compared to the $1.7 million the premium exhibitor reported during the same three-month period a year ago. That profit for the company equates to adjusted per share earnings of 35 cents, which was slightly better than the 30 cents per-share earnings analyst via Yahoo! Finance were expecting. The earnings per share were also up from last year’s 26 cents per share. Imax shares were up more than 4% in after-hours trade on Wednesday. Revenue for the fourth quarter hit $124.3 million, better than the $117.5 million analysts anticipated, and up compared with the $109 million Imax reported a year ago. Also Read: IMAX Sets New Company Box Office Record on Eve of 'Rise of Skywalker' Release “Across 2019, our business demonstrated significant strength by setting a number of new records for the company including annual revenue as well as global, international, and local language box office — underscoring the increasing geographic diversification of our...
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