IMAX Profits Surge 25% Thanks to Harry Potter and Transformers

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

Last Updated: October 27, 2011 @ 5:58 PM

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."