Imax Ends 2018 on a High Note; Wandering Earth Success Highlights the Turnaround in China
Imax reported a strong end to 2018 as the firm beat consensus projections for the top line and adjusted EBITDA. The firm reported Imax box office grosses of $237 million in the fourth quarter, down 15% year over year on a tough comp. Despite the overall decline, the China market continues to rebound, with box grosses up 9% in the quarter. Imax signed agreements covering 12 new theaters, along with two upgrade signings during the quarter, and ended the quarter with a backlog of 564 theaters versu...IMAX is an entertainment technology company. Co.'s businesses are: the design and manufacture of theater systems and the sale or contribution of those systems to customers under theater system arrangements; and the Digital Re-Mastering of films into the IMAX format and the exhibition of those films in the IMAX theater network. Co. is also engaged in the production and distribution of original large-format films, the provision of services in support of the IMAX theater network, the provision of post-production services for large-format films, the operation of three IMAX theaters and, from time-to-time the conversion of two-dimensional and three-dimensional Hollywood feature films.
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