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IMAX Corporation Reports First Quarter 2012 Financial Results

NEW YORK April 27, 2012

HIGHLIGHTS

  • $121.7 million
  • $55.6 million
  • $4.0 million
  • The Avengers: An Experience

IMAX Corporation $55.6 million $16.4 million $4.0 million $0.06 $2.6 million $0.04 $0.7 million The Dark Knight Rises .

http://photos.prnewswire.com/prnh/20111107/MM01969LOGO

Richard L. Gelfond


$19.1 million $11.5 million $13.8 million $7.3 million $121.7 million $62.3 million $247,600 $212,400 $304,100

Mission: Impossible – Ghost Protocol The Avengers, Men in Black 3, Prometheus, The Amazing Spider-Man Christopher Nolan The Dark Knight Rises The Avengers: An Experience, Russia

$11.7 million $4.0 million March 31, 2012 March 31, 2011

$15.7 million $22.3 million


March 31, 2012 December 31, 2011 March 31 March 31, 2012

March 31, 2012
March 31, 2012 March 31, 2012

Mr. Gelfond concluded, "2012 is off to a strong start.  We are still in the early stages of our international expansion, and our pipeline of new theatre deals remains robust.  We believe that the IMAX platform is becoming increasingly important to our business partners and consumers, and we look forward to bringing The IMAX Experience® to more and more audiences around the world." 

$55.6 million $4.0 million $0.06 $2.6 million $0.04 $16.4 million $45.2 million $2.5 million $0.04 $1.0 million $0.02 $9.0 million $2.1 million $0.03


8:30 AM ET www.imax.com www.imax.com


North America Western Europe Japan China Russia

New York Toronto Los Angeles London Tokyo Shanghai March 31, 2012

www.imax.com www.facebook.com/imax www.twitter.com/imax www.youtube.com/imaxmovies

This press release contains forward looking statements that are based on IMAX management’s assumptions and existing information and involve certain risks and uncertainties which could cause actual results to differ materially from future results expressed or implied by such forward looking statements. Important factors that could affect these statements include, but are not limited to, general economic, market or business conditions, including the length and severity of the current economic downturn, the performance of IMAX DMR films, the opportunities that may be presented to and pursued by IMAX, competitive actions by other companies, conditions in the in-home and out-of home entertainment industries, the signing of theatre system agreements, changes in law or regulations, conditions, changes and developments in the commercial exhibition industry, the failure to respond to changes and advancements in digital technology, the failure to convert theatre system backlog into revenue, new business initiatives , investments and operations in foreign jurisdictions and any future international expansion, the inability to protect IMAX’s intellectual property foreign currency fluctuations and IMAX’s prior restatements and the related litigation.  These factors and other risks and uncertainties are discussed in IMAX’s most recent Annual Report on Form 10-K and most recent Quarterly Reports on Form 10-Q.

For additional information please contact:

Investors:

IMAX Corporation, New York

Heather Anthony/Blaire Lomasky           

212-821-0100

[email protected]

[email protected]

 

Business Media:

Sloane & Company, New York

Whit Clay

212-446-1864

[email protected]

Media:

IMAX Corporation, New York

Ann Sommerlath

212-821-0155

[email protected]

 

Entertainment Media:

Principal Communications Group, Los Angeles  

Melissa Zuckerman/Paul Pflug

323-658-1555

[email protected]

[email protected]

Additional Information


www.imax.com

  • The Avengers: An Experience May 2012
  • Dark Shadows: The Experience May 2012
  • Men in Black III: An Experience May 2012
  • Prometheus: An Experience June 2012
  • Madagascar Europe Experience June 2012
  • The Amazing Spider-Man: An Experience July 2012
  • The Dark Knight Rises: The Experience July 2012
  • Frankenweenie: An Experience October 2012
  • Skyfall: The Experience November 2012
  • Gravity: An Experience November 2012
  • CZ12: The Experience Huayi Brothers December 2012 Asia
  • The Hobbit: An Unexpected Journey: An Experience December 2012




March 31, 2012 March 31, 2011

IMAX CORPORATION



(Unaudited)

Three Months

Ended March 31,

2012 

2011

Revenues

Equipment and product sales

$

14,379

$

20,231

Services

27,067

18,274

Rentals

12,470

5,051

Finance income

1,680

1,354

Other

250

55,596

45,160

Costs and expenses applicable to revenues

Equipment and product sales  

9,095

10,851

Services  

15,620

11,377

Rentals

4,020

2,266

Other

20

28,735

24,514

Gross margin

26,861

20,646

Selling, general and administrative expenses  

19,062

16,868


Provision for arbitration award

2,055

Research and development

2,630

1,868

Amortization of intangibles

176

112

Receivable provision, net of recoveries

451

208

Income (loss) from operations

4,542

(465)

Interest income

24

18

Interest expense

(526)

(443)

Income (loss) from continuing operations before income taxes

4,040

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