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Imax Profit Doubles on Theatre Network Growth

Net income more than doubles year-over-year

Canada-based movie system maker Imax Corp's fourth-quarter profit more than doubled, helped by theatre network growth and strong box office performances.

Net income rose to $12.9 million, or 19 cents per share, from $6.3 million, or 9 cents per share, a year earlier.

Imax, which designs and produces cameras and projection equipment for its namesake motion picture film format, said revenue rose 17 percent to $77.8 million.

The company – whose principal business is to design and manufacture theater systems – in turn sells and leases these systems to customers under revenue-sharing arrangements.