July 29, 2010--IMAX Corporation today reported that revenues for the second quarter ended June 30, 2010, increased 38% to $55.6 million, compared to $40.4 million in the same period last year. Second quarter 2010 reported net income increased to $13.3 million, or $0.20 per diluted share, compared to reported second quarter 2009 net income of $2.6 million, or $0.05 per diluted share. Adjusted net income, which excludes the impact of variable stock compensation, increased 35% to $8.4 million, or $0.13 per diluted share, compared to adjusted net income of $6.2 million, also $0.13 per diluted share, on the same basis in last year's quarter, reflecting the year-over-year increase in weighted average shares outstanding. A foreign exchange loss related to the Canadian dollar and expenses associated with the increase in global sales activity and new business initiatives negatively impacted the quarter by approximately $0.03 per share.
July 28, 2010--IMAX Corporation today announced a special meeting of shareholders, scheduled for September 28, 2010, in New York, NY, to elect two directors to fill vacancies created by the recent increase in the number of directors from seven to nine. The nominees for election are I. Martin Pompadur and Eric A. Demirian.
July 28, 2010--The Giant Screen Cinema Association (GSCA) is pleased to announce the winners of its annual marketing awards, which celebrate the best execution of ideas in promoting giant screen films and theaters. The awards will be given at the Achievement Awards Presentation, sponsored by Technicolor, on Saturday, September 25, at the Tennessee Aquarium in Chattanooga, Tennessee, during the GSCA 2010 International Conference and Trade Show.
July 27, 2010-- IMAX Corporation and Huayi Bros. Media Corporation Ltd., China's largest privately owned media group, today released the opening weekend box office results for the Chinese film Aftershock, directed by renowned film director Feng Xiaogang. The film was released on 12 IMAX screens in China and generated more than $640,000 at the box office, for a per screen average of approximately $55,000 for the opening weekend. Aftershock is the first mainstream Chinese film and the first mainstream commercial film produced and distributed by a studio outside of the U.S. to be digitally re-mastered into The IMAX Experience. The film will open on three additional IMAX screens in early August.
July 27, 2010--IMAX Corporation and Cinema Park, the exhibition chain owned by Russia's largest media holding company, Profmedia, today announced an agreement to install up to 14 IMAX theater systems throughout Russia, beginning in 2010. The agreement, which marks the single largest European theater deal in IMAX's 45-year history, was signed as IMAX theaters in Russia and The Commonwealth of Independent States (CIS) continue to produce tremendous box office results. During the past nine months, the seven IMAX theaters in the region have produced some of the highest per screen box office averages in the world.
July 26, 2010--IMAX Corporation, Warner Bros. Pictures, and Legendary Pictures today announced that Inception, written and directed by Christopher Nolan (The Dark Knight), continued its strong performance during the second weekend in IMAX theaters, generating $4.8 million on 197 IMAX screens domestically from Friday, July 23, through Sunday, July 25, for an estimated per-screen average of approximately $25,000. The film's domestic IMAX total has reached approximately $16.1 million.
July 26, 2010--IMAX Corporation and Rising Star Media, Russia's leading international theatrical exhibitor, today announced an agreement to expand their relationship by adding an additional IMAX location in Moscow following the success of the exhibitor's first three IMAX locations in St. Petersburg and Moscow. The new IMAX theater is scheduled to open in January 2011, bringing the total number of IMAX theaters scheduled to be in operation in Russia by 2012 to 13. Rising Star's IMAX screens in Moscow and St. Petersburg, Russia, operate to the public under the KinoStar name. With this new IMAX theater contract signing, IMAX has signed deals for 104 IMAX systems year-to-date, which compares to 35 system signings in all of 2009.
June 26, 2010--Building on a year of unprecedented international network growth, IMAX Corporation has announced that it has signed an agreement with Guangzhou Jinyi Film & Television Group, Co., Ltd., a leading entertainment developer and exhibitor in China, to open eight IMAX theaters in China. The agreement adds to the four IMAX theaters already contracted between the two parties, bringing the exhibitor's total number of IMAX theaters scheduled to open by 2014 to 12. The first installation is scheduled to be completed during December 2010, followed by another five in 2011, four in 2012, one in 2013, and one in 2014. This deal brings the total number of IMAX theaters scheduled to be operating in China by 2014 to 65, and the number of theater systems signings announced year-to-date by the company to 103, which compares to 35 systems in all of 2009.
July 20, 2010--IMAX Corporation, Warner Bros. Pictures, and Legendary Pictures today announced that Inception, written and directed by Christopher Nolan (The Dark Knight) and starring multiple Oscar nominee Leonardo DiCaprio (Blood Diamond, The Aviator), generated gross box office receipts of approximately $7.2 million from 197 IMAX theaters domestically from Friday, July 16, through Sunday, July 18, for an estimated per screen average of $36,500. The film also opened strong in IMAX theaters internationally, generating approximately $800,000 from 22 screens. The film is still scheduled to open on an additional 46 IMAX screens internationally in the days and weeks ahead.
July 16, 2010--IMAX Corporation, Warner Bros. Pictures and Legendary Pictures have announced that Inception, directed by Christopher Nolan (The Dark Knight) and starring multiple Oscar nominee Leonardo DiCaprio (Blood Diamond, The Aviator), opens on a record 197 IMAX screens simultaneously with the film's domestic wide release in conventional theaters on July 16, 2010. Inception also opens day-and-date on 22 IMAX screens internationally starting on July 15 and 44 additional IMAX screens internationally in the following weeks. The film marks the third IMAX project for Christopher Nolan, following the record-breaking IMAX release of The Dark Knight, which grossed more that $65 million at IMAX theaters. Inception, a contemporary sci-fi action film set within the architecture of the mind, has been digitally re-mastered with IMAX DMR technology.