Imax Reports Strong 2Q; Imax Box Office Growing Faster than Overall U.S. Box Office
Imax posted another strong quarter as the firm met consensus projections for the top line and beat the Street expectations for adjusted EBITDA. The firm reported strong Imax box office grosses of $343 million in the second quarter, the fifth straight quarter of growth and the first quarter with over $100 million in grosses in each of the firm's three regions: U.S., China, and rest of the world. The company benefited from the global strength of both Pixar's Incredibles 2 and Marvel's Avengers Inf...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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