Overall fourth-quarter revenue came to $98 million, down 10 percent from a year-earlier $108.6 million.
Ahead of the release of the fourth-quarter financials, analysts forecast overall revenues of $95.7 million, net income at $5.4 million and adjusted earning per share at 19 cents, according to a FactSet consensus estimate. During the latest three months, Imax saw technology network revenues fall 11 percent to $45.9 million, while technology sales and maintenance revenues fell 10 percent to $48 million.
On an analyst call, Imax CEO Richard Gelfond talked up the company returning to those pre-pandemic levels of box office and strong global network growth — including theater signings and installations in Asia, especially India, and Latin America — in the wake of the“As a result, we are seeing encouraging signs of increasing demand for new and upgraded Imax systems around the world, including recent multi-system agreements in Japan and Indonesia.
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