October 27, 2011 / 11:35 AM / 7 years ago

UPDATE 1-Imax Q3 profit up on box office gains

Oct 27 (Reuters) - Imax Corp reported a 25 percent rise in third-quarter profit, driven mainly by strong box office revenue.

“This was our highest-grossing box office quarter since the first quarter of 2010,” Chief Executive Richard Gelfond said in a statement.

For the July-September period, the giant movie screen maker’s net income rose to $8.4 million, or 12 cents a share, from $6.7 million, or 10 cents a share, a year ago.

On an adjusted basis, it earned 16 cents a share.

Revenue rose 32 percent to $67.5 million.

The company said it expects to record a gain of $3.4 million from foreign exchange in the fourth quarter if the Canadian dollar continues to be strong versus the U.S. dollar. (Reporting by Bhaswati Mukhopadhyay in Bangalore; Editing by Supriya Kurane)

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