Giant-screen exhibitor Imax posted higher first-quarter revenues as it was lifted by a recovery in the Asian box office. The company, led by CEO Richard Gelfond, reduced its loss attributable to shareholders to $14.8 million, compared with a loss of $49.4 million last year when Imax was hit hard by movie theater closures during the novel coronavirus pandemic.
Despite the hit to North American movie theaters from the COVID-19 crisis with theater closures and capacity restrictions, Imax has seen strong box office performance for local titles, mainly in China, Korea and Japan as the Asian market reopened.
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