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.