OTTAWA, March 11 (Reuters) - Imax Corp reported a fourth-quarter profit on Thursday as the giant-screen movie theater operator benefited from a strong slate of films, including Fox's 'Avatar: An IMAX 3D Experience.'
Imax posted a net profit of $4 million, or 6 cents a share, compared with a year-earlier net loss of $9 million, or 21 cents a share.
Revenue rose 98 percent to a record $54.2 million.
Imax said it was positioned to deliver 'a strong first quarter,' based on theater signings and record box office quarter-to-date.
The company, which is keen to expand its presence in Asia, agreed this week to form a joint venture with a South Korean exhibitor to operate up to 15 new theaters in that country. In December it said it was in talks with at least five companies in China.
($1=$1.03 Canadian)
(Reporting by Susan Taylor; Editing by Lisa Von Ahn) Keywords: IMAX/ (susan.taylor1@thomsonreuters.com; +1 613 235 8385; Reuters Messaging: susan.taylor1.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
Imax posted a net profit of $4 million, or 6 cents a share, compared with a year-earlier net loss of $9 million, or 21 cents a share.
Revenue rose 98 percent to a record $54.2 million.
Imax said it was positioned to deliver 'a strong first quarter,' based on theater signings and record box office quarter-to-date.
The company, which is keen to expand its presence in Asia, agreed this week to form a joint venture with a South Korean exhibitor to operate up to 15 new theaters in that country. In December it said it was in talks with at least five companies in China.
($1=$1.03 Canadian)
(Reporting by Susan Taylor; Editing by Lisa Von Ahn) Keywords: IMAX/ (susan.taylor1@thomsonreuters.com; +1 613 235 8385; Reuters Messaging: susan.taylor1.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
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