Imax posts 1st-quarter profit

Fri Apr 27, 2012 7:25am EDT
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(Reuters) - Imax Corp (IMAX.N: Quote) IMX.TO posted a net profit for the first quarter on a slew of blockbuster releases, as the Canadian company continued to expand its global footprint.

Net income was $2.6 million, or 4 cents per share, compared with a net loss of $1.0 million, or 2 cents per share, a year ago.

Revenue rose 23 percent to $55.6 million.

(Reporting by Abhiram Nandakumar in Bangalore; Editing by Joyjeet Das)