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Non-Tech : IMAX 3D-the wave of the future
IMAX 35.84-2.7%11:20 AM EST
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To: NO KA OI! who wrote (161)11/10/2000 11:17:29 AM
From: hugh thorne  Read Replies (1) of 170
 
Globe says Imax posts disappointing Q3
Imax Corp IMX
Shares issued 29,808,888 2000-11-08 close $7.5
Thursday Nov 9 2000 In the News
The Globe and Mail reports in its Thursday, Nov. 9, edition that Imax, whose profit warning last month sent its stock reeling, put the best face on poor financial results Wednesday. The Globe's Keith Damsell writes that Imax reported a "modest loss" of $1.2-million (U.S.) or four U.S. cents a share on revenue of $53.6-million (U.S.) for the third quarter ended Sept. 30. That compares with profit of $3.2-million (U.S.) or 11 U.S. cents on revenue of $42.5-million (U.S.) for the same period in 1999. Imax estimates earnings a share in fiscal 2000 would be as high as 70 U.S. cents, not including possible charges from ailing North American movie theatre clients that lease Imax equipment. Prior to the earnings warnings analysts estimated Imax would earn about 23 U.S. cents a share in the third quarter and about $1.24 (U.S.) for the year. Imax says it is not experiencing the same cash losses from overbuilding, overcapacity and overleverage that have affected the exhibition industry. Imax closed up 25 Canadian cents to $7.50 (Canadian) on the Toronto Stock Exchange Wednesday. The Globe says analysts remain wary of Imax's growth prospects
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