Without an ‘Avatar’-Sized Holiday Blockbuster, Imax Quarterly Earnings Fall
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variety.comBrent Lang Executive Editor The actors strike and a series of holiday blockbusters that didn’t shine as brightly took a bite out of Imax‘s fourth-quarter earnings.
Revenues at the exhibition and technology company fell to $86 million, a 12% drop from the $98 million that the company reported in the prior-year quarter.
Profits, however, were essentially flat, with Imax reporting net income of $2.5 million, a 3% decline from the $2.6 million in the prior-year quarter.
Imax’s adjusted earnings per share of 17 cents represented an 11% drop. Imax’s revenues missed Wall Street’s estimates of $89.6 million, while its profits topped projections of 10 cents per share.
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