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Imax profit plunges 88 per cent Add to ...

Imax Corp. reported an 88-per-cent drop in fourth-quarter profit, hurt in part by fewer new theatre installations, even as it notched solid box office receipts led by the latest Mission: Impossible title.

Net income for the Mississauga -based company was $6.3-million, or 9 cents a share, down from $54.2-million, or 80 cents a share, a year ago.

On an adjusted basis, it earned 14 cents a share, down from 21 cents a share, in the year-ago quarter.

Revenue fell 4 per cent to $66.7-million.

Most of the company’s revenue is in U.S. dollars while the majority of its costs are in Canadian dollars, making currency exchange rates a factor.

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IMX-T IMAX Corp. 28.81 -0.40
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