Space Station 3D
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2008 | 2004 | 2003 | 2002

1 item from 2003


Imax posts its first profitable year since 1999

28 February 2003 | The Hollywood Reporter | See recent The Hollywood Reporter news »

Cinemagoers would be willing to pay a premium of $3-$4 to see digitally remastered Hollywood blockbuster releases on Imax screens, Imax co-CEO Bradley Wechsler said. Wechsler made that prediction Thursday as Toronto-based Imax posted a fourth-quarter profit of $684,000, down from a profit of $19.6 million in 2001 because of a one-time $31.2 million gain from a debt buyback. Revenue for the quarter ending Dec. 31 was $37.3 million, compared with a year-earlier $33.8 million. In 2002, the company had its first profitable year since 1999, with earnings of $11.9 million, compared with a year-earlier loss of $145 million. Theater-system revenue during the latest quarter slipped more than 17% to $20.3 million from $24.6 million as revenue was recognized for five theater systems rather than the previous year's six. Film revenue jumped 74% to $11.5 million from $6.6 million, in part because of the success of the documentary Space Station. Wechsler said his company's turnaround could get a boost if consumers pay a premium on tickets to see A-title movies in Imax theaters, as independent research has suggested they would. »

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2008 | 2004 | 2003 | 2002

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