August 6, 2009 / 12:04 PM / 8 years ago

UPDATE 1-Imax posts Q2 profit

* Q2 EPS $0.05 vs year-ago loss $0.29

* Revenue up 94 pct to $41 mln

* Film revenue climbs 145 pct to $16.1 mln

Aug 6 (Reuters) - Giant-screen movie theater company Imax Corp IMX.TO IMAX.O swung to a quarterly profit on strong feature-film revenue as more films were released in the Imax format.

For the second quarter ended June 30, Imax posted a profit of $2.6 million, or 5 cents a share, compared with a loss of $12.2 million, or 29 cents a share, a year earlier. Revenue rose 94 percent to $41 million.

Analysts on average were expecting earnings of 3 cents a share, before special items, on revenue of $37.8 million, according to Reuters Estimates.

Film revenue surged 145 percent to $16.1 million, while systems revenue increased 33 percent to $8.3 million.

Imax said it recognized revenue on five theater systems, compared with two theatre systems in the year-ago period.

Shares of Imax closed at C$10.10 on the Toronto Stock Exchange and $9.50 on Nasdaq Wednesday. (Reporting by R. Manikandan in Bangalore; Editing by Vinu Pilakkott)

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