IMAX revenues surge on box office, China returns in Q1


This post is in partnership with TheWrap. The article below was originally published at

By Todd Cunningham, TheWrap

Imax [fortune-stock symbol= »IMAX »] revenues climbed 29% to $62 million in the first quarter of this year behind a stronger-than-expected domestic box office and solid returns from China and abroad, the company reported Thursday.

While the revenues were up from $48.2 million last year, first quarter earnings for the giant-screen chain fell. Net income was $391,000, down from $579,000 a year ago and earnings per share were at zero, down from one cent per share a year ago. That reflected the company’s aggressive growth strategy and the introduction of its laser projection technology, and was in line with analysts’ expectations.

Box office grosses hit $166 million, up 20% from 2014’s first quarter, and that was the key. China powered a strong foreign performance that drove 64% of that total, and the…

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