IMAX reports record revenues and profits in China

IMAX Corporation’s? IMAX China yesterday reported results for 2015, including the highest-ever annual revenues and operating profit. The Company’s strong results for 2015 reflect the continuing demand for the IMAX format among growing consumer spending, coupled with continued operating leverage resulting from a rapidly expanding network and strong box office.

For the full year of 2015, IMAX China delivered $110.6 million in total revenues, up 41 percent from 2014. Gross profit was $72.3 million, or 65 percent of total sales. This compares to the 59 percent achieved in 2014. Operating profit was up 36 percent to $42.4 million. On an adjusted basis, net income came in at $43.4 million, up 67 percent from last year. In 2015, the China box office reached $312.4 million, a 53.8% increase over 2014.