November 5, 2009 / 2:15 PM / in 9 years

UPDATE 1-Imax reports Q3 profit, revenue up 33 pct

* Q3 EPS $0.02 vs loss of $0.05 year-ago

* Q3 rev up 33 pct to $43.6 mln

* Receives commitment letter for $75 mln credit facility (In U.S. dollars unless noted)

Nov 5 (Reuters) - Canada’s Imax Corp IMX.TOIMAX.O posted a quarterly profit on Thursday, as the giant-screen movie theater operator’s revenue grew 33 percent, partly on strong equipment and product sales.

Imax also said it received a commitment letter from Wachovia Capital Finance Corp for a $75 million credit facility.

Imax earned $1.1 million, or 2 cents a share, in the three months ended Sept. 30, compared with a loss of $2.1 million, or 5 cents a share, a year ago.

Total revenue was $43.6 million.

The company said IMAX systems revenue more than doubled to $20.1 million.

Imax installed and recognized revenue on 13 theatre systems, including five digital upgrades, during the quarter, compared to three theatre systems recognized a year ago.

Shares of the company closed at C$11.28 Wednesday on the Toronto Stock Exchange. (Reporting by Ashutosh Joshi in Bangalore; Editing by Himani Sarkar)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below