Imax Corp reports profit in fourth quarter on the huge revenue by Avatar

Imax-CorpImax Corp, a Toronto based screen movie operator, reported a net profit in the fourth quarter of FY 2009. The movie operator released its fourth quarter and full year results on Thursday. The company said that the profit in the fourth quarter was mainly attributable to the strong performance of films in the fourth quarter, including Avatar. The company also provided an optimistic outlook for the coming quarter.

In the fourth quarter, the company posted a net profit of $4 million or 6 cents per share, while in the same period last year the company posted a net loss of $9 million or 21 cents per share. The quarterly profit was in line with the expectations of the market analysts. The sales for the period were reported of $54.2 million, increasing by 98% compared with the same period last year. The sales figures beat the market estimates as analysts were expecting sales figures of $45.3 million for the quarter.

For the full year 2009, the company posted net profit of $5 million or 9 cents per share, while the company posted a net loss of $33.6 million or 79 cents per share in FY 2008. In FY 2009, total revenue was reported $171.2 million, increasing by 67% as it was posted $102.7 million in FY 2008.




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