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IMAX Corporation Q2 revenue $87.8 million, loss $1.7 million

Staff Writer | July 31, 2017
IMAX Corporation reported second-quarter 2017 revenue of $87.8 million and a net loss attributable to common shareholders of $1.7 million, or $0.03 per diluted share.
IMAX Corporation   Adjusted net income was $0.15 per diluted share
Adjusted net income attributable to common shareholders for the second quarter was $0.15 per diluted share, which excludes charges and impairments associated with the Company's cost-reduction initiative.

Other highlights

Dunkirk kicked off Q3 with a robust $19 million in Global Box Office across 634 theaters in its opening weekend. Domestically, IMAX represented a record 23% of the opening weekend box office and laid claim to 18 of the top 20 locations.

Signed agreements for 92 new theaters in the second quarter, bringing year-to-date signings to 130 systems across 24 countries including the U.S., China, India, Germany and the Netherlands.

Backlog of 580 systems represents an all-time high, facilitating a sustained level of installations.

Announced first-ever virtual reality Hollywood content deal with Warner Bros. Home Entertainment to develop three cutting-edge VR experiences based on highly anticipated films, including Justice League and Aquaman.

Announced a cost-reduction exercise aimed at achieving approximately $20 million in annualized cost savings, with the goal of improving operating leverage.

Repurchased $46M of shares in the second quarter, completing the previously announced $200-million buyback program; board authorized new program for up to an additional $200 million through June 2020.