Imax Boasts Record-setting Quarter
IMAX's third quarter revenue and profits turned out to be as big as its screens. The company today (Thursday) said that adjusted net income rose 12.2 percent to $11 million from $9.8 million for the same quarter a year ago on record third-quarter revenue of $67.5 million, up 32 percent from $51.1 million last year. In a you-aint-seen-nothing-yet statement, IMAX CEO Richard Gelfond observed that the company was "still very early on in our international network expansion" and that IMAX's long-term success is being secured by its ability to develop and acquire new technology, such as the recent deal to secure exclusive rights to Kodak's laser technology. Said Gelfond "Our upcoming lineup of films is shaping up to be an exciting one for IMAX audiences, beginning with a five-day preview of Paramount's Mission Impossible -- Ghost Protocol The IMAX Experience , and continuing into 2012 with key franchise titles including The Amazing Spider-Man, The Hobbit An Unexpected Journey, and The Dark Knight Rises, which is currently being filmed using IMAX cameras."