IMAX CORPORATION

EXHIBIT 99.1

 

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IMAX CORPORATION

www.imax.com

IMAX CORPORATION REPORTS FIRST-QUARTER 2019 RESULTS

HIGHLIGHTS

 

   

IMAX raises full-year 2019 box office guidance following better-than-expected first quarter. Company currently anticipates IMAX global box office will see low-double digit percentage growth, compared to 2018.

 

   

IMAX delivers second strongest box office quarter of all time in China, up 19% to $106 million.

 

   

Avengers: Endgame delivers biggest IMAX open ever in China. In its first two days, including midnights, the film generated over $21 million of IMAX box office.

 

   

Domestic IMAX pre-sales for Avengers: Endgame stand at $21 million, up 70% compared to Avengers: Infinity War.

 

   

IMAX signed agreements for 23 systems last quarter, including 7 in Japan, where same-store sales were up 21%, compared to the first-quarter of 2018.

NEW YORK – Apr. 26, 2019

– IMAX Corporation (NYSE:IMAX), the world leader in immersive audience experiences, reported revenues of $80.2 million, gross profit of $45.1 million and net income attributable to common shareholders of $8.3 million, or $0.13 per diluted share, for the first quarter ended March 31, 2019. Adjusted net income attributable to common shareholders for the quarter was $10.8 million, or $0.18 per diluted share, and adjusted EBITDA was $28.5 million. For reconciliations of reported results to non-GAAP financial results, and for the definition and reconciliation of Adjusted EBITDA, please see the end of this press release.

“IMAX empowers the world’s most innovative content creators with unparalleled end-to-end technology and a global network spanning more than 80 countries,” said IMAX CEO Richard L. Gelfond. “The benefit of those artistic partnerships and our global reach is evident in our better than expected first quarter results, particularly in China, where we outperformed the market and posted our second-best quarter ever. With a robust lineup of tentpole films ahead, like the highly anticipated Avengers: Endgame, which opens this weekend, we anticipate delivering our strongest box office year ever in 2019.”

First Quarter 2019 Results

Box Office Update

Gross box office from IMAX DMR® films was $256.3 million in the first quarter of 2019 compared to $246.9 million in the first quarter of 2018. Gross box office was generated primarily by the release of 24 films (12 new and 12 carryovers), as compared to 22 films (14 new and 8 carryovers) exhibited in the first quarter of 2018.

“Our achievements in 2018 set the stage for IMAX to have a blockbuster year in 2019,” Gelfond added. “Given our better than anticipated start in the first quarter, we are even more confident that 2019 will deliver strong growth in EBITDA margins and return on capital.”

 

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The following information was filed by Imax Corp (IMAX) on Friday, April 26, 2019 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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