IMAX Q4 Revenues Up 28%
The company posted a net income of $54.16m for the fourth quarter of 2010, compared to $4.03m for the same period in 2009.
Selling, general and administrative expenses for the fourth quarter of 2010 were $31.71m, compared to $20.29m for the same period in 2009. Gross margin was $36.38m, compared to $27.88m for the same period in 2009.
For the full-year ended December 31, 2010, the company posted a net income of $100.77m, compared to $5.02m for the same period in 2009. Selling, general and administrative expenses were $78.42m, compared to $56.2m for the same period in 2009.
Revenues for the full-year of 2010 were $248.61m, compared to $171.21m for the same period in 2009. Gross margin was $137.65m, compared to $81.55m in the same period of 2009.
During the fourth quarter of 2010, the company installed a record 54 theatre systems, compared to a total of 38 system installations in the fourth quarter of 2009.
Fourth quarter of 2010 total film revenue increased 19 percent to $18m, compared to $15.1m in the fourth quarter of 2009. Production and IMAX DMR revenues has increased nine percent to $13.1m, compared to $12m in the year-ago period.
Richard Gelfond, CEO of IMAX, said: â€œIn 2010, we saw most aspects of our strategy come together. The public came to enjoy The IMAX Experience in record numbers, our commercial network grew by 30 percent, our digital network grew by more than 80 percent and we signed new theatres in record numbers. The year's record revenues and earnings reflect the success of our model.â€
Will the company maintain revenues consistently in Q1?
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