IMAX getting bigger
April 30, 2012
By Chris Forrester
IMAX, the operator of giant cinema screens, is to tap into a growing momentum for the format by equipping new theatres. IMAX Corp plans to install 95 systems this year, on top of the 510 now in use. A year ago the number was 386.
IMAX unveiled the news, along with its Q1 numbers on April 27th. Revenue grew 23 per cent to $55.6 million from $45.2 million, beating the $54 million expected by analysts. Net income to March 31st came to $2.6 million compared with a net loss of $1 million a year ago. In the year to March 31st box-office revenues in North America are up about 17 per cent helped by movies like Mission Impossible – Ghost Protocol and The Hunger Games, being shown in IMAX theatres.