Imax CEO Continuing To Monitor Situation In China Closely As Company Blows Past Q4 Forecasts

per share of 35 cents, up 35% from the year before and higher than the 30 cents anticipated. Revenue rose 14% to $124.3 million, also topping forecasts.

“In terms of the health crisis in China, where movie theaters nationwide remain closed, we are continuing to monitor the situation closely and needless to say the safety of our team and audiences is our top priority,” said CEO Richard Gelfond. “We look forward to circumstances improving and Imax continuing to satisfy China’s strong demand for premium quality content and entertainment experiences.”

Management will host a conference call at 4:30 ET to discuss the company’s earnings and outlook and investors are sure to look for more detail on the situation in China, where Imax has offices and 660 screens, all shuttered due to the deadly coronovirus outbreak. Imax is headquartered in New York, Toronto and Los Angeles, with offices in London, Dublin, Tokyo, and Shanghai. A subsidiary, Imax China Holding, trades on the Hong Kong Stock Exchange.

As of December 31, 2019, there were 1,624 Imax theater systems operating in 81 countries and territories.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Apple’s Coronovirus Woes, Uncertainty, Drive Market Lower: Sony, Imax Also DownU.S. stock dipped Tuesday after Apple warned it wouldn’t hit sales forecasts for the current quarter as the deadly coronavirus is impeding production and sales in China. Apple has been tradin…
Source: DEADLINE - 🏆 109. / 63 Read more »

Nissan CEO sees earnings, cashflow under pressure for current financial yearNissan Motor Co Chief Executive Makoto Uchida on Tuesday said he expect... Strange how a company that is moving to a more higher end of the market is struggling. Of course
Source: Reuters - 🏆 2. / 97 Read more »

Alan: French health tech startup CEO on transparency and growth - Business InsiderFrench health tech startup Alan has no meetings above 3 people, reveals employee salaries, and has low staff churn. Its CEO explains why it works. CEO ostensibly explains why s/he *thinks* it works.
Source: BusinessInsider - 🏆 729. / 51 Read more »

Intercept Pharmaceuticals CEO Mark Pruzanski on first NASH drug - Business InsiderInside the $3 billion biotech preparing to launch the first treatment for NASH, a silent disease that affects millions of Americans
Source: BusinessInsider - 🏆 729. / 51 Read more »