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IMAX Profits Surge 25% Thanks to Harry Potter and Transformers

The third quarter was the biggest box office period since ”Avatar“

Summer blockbuster season was very good to IMAX.

The big screen company saw profits rise 25 percent to $8.4 million or 12 cents a share during its third quarter thanks to tentpole films such as "Harry Potter and the Deathly Hallows Part 2" and "Transformers: Dark of the Moon." 

That was up from $6.7 million or 10 cents a share in the same period a year ago. 

“The combination of strong film performance, a growing theatre network and prudent expense management resulted in strong third quarter results,” IMAX Chief Executive Officer Richard L. Gelfond said in a statement. 

It was IMAX's highest grossing box office quarter since the first earnings period of 2010 — a span which also included the release of "Avatar" — the company said. 

Revenue jumped 32 percent to $67.5 million, up from $51.1 million in the year ago period.

IMAX said that it had high hopes for the winter release of blockbuster hopefuls "Tintin" and "Mission Impossible: Ghost Protocol," as well as next summer's "The Dark Knight Rises."