IMAX CEO Rich Gelfond Made $3.6M In 2012, -34.3%

By | Thursday April 11, 2013 @ 2:09pm PDT

IMAXThe disparity in the CEO’s compensation vs last year appears to be due to a judgement call that resulted in no option awards, which came to $3.2M last year. In a year when IMAX shares were up 18.7%, … Read More »

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IMAX Looks For Growth From Digital Projectors And Global Programming

By | Thursday February 21, 2013 @ 11:33am PST

The large screen theater company set a high bar for itself this morning when it reported a 55.7% jump in the gross box office for its films in Q4. But CEO Rich Gelfond will try to beat that in 2013 by taking more control over the films IMAX theaters show. One initiative, unveiled this morning, will deploy digital projectors in about 30 of the company’s most popular theaters which currently use conventional film — including Regal’s IMAX theaters in Irvine, Cal.; Ontario, Cal.; and Orlando, Fla. The change is needed because film stock is “disappearing faster than we had anticipated” and the cost of processing it is rising. “With a digital projector we can show 25 films a year because each hard drive costs $150,” he tells me. “You can swap it in or out, no big deal. In a film theater each print costs $30,000. They’re big, bulky, and expensive.” But the digital projectors aren’t powerful enough to light some of the largest screens including theaters in New York’s Lincoln Square, Los Angeles’ Howard Hughes Center, and the Universal CityWalk. That’s one reason why the digital projectors are merely an “interim solution” until late 2014 when IMAX will roll out its more powerful laser projectors.  Read More »

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IMAX Says Weak Canadian Dollar Hurt 3Q Earnings

The large-screen theater company says it generated $8.39M in net income for 3Q, up 24.6% vs the period last year, on revenues of $67.5M, up 32.2%. That translated into adjusted earnings of 16 cents a share, light of the … Read More »

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Does IMAX’s New Laser Projection Deal With Kodak Threaten RealD?

By | Monday October 17, 2011 @ 8:25am PDT

Many investors think so this morning; RealD shares are down more than 7.7% in early trading. There’s no immediate danger: RealD has a few years left on its exclusive deals with major theater owners to supply their 3D-projection technology. Still, BTIG analyst … Read More »

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Imax Decides It Can Live Without A COO

By | Monday September 19, 2011 @ 2:53pm PDT

Imax says in an SEC filing that COO Gary Moss will leave at the end of this month and not be replaced. Imax created the COO job, reporting to CEO Rich Gelfond, in 2009 when Moss joined. He had been a consultant … Read More »

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IMAX Blames Bad Films For Dramatic 2Q Earnings Decline

UPDATE, 6:40 AM: In a conference call with analysts, CEO Rich Gelfond continued to talk up future opportunities while acknowledging that “like you we’re not happy” with recent box office sales. He’s talking to studios about making … Read More »

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What Will Stop Wall Street’s Anti-3D Debate?

Wall Street’s backlash against 3D movies is growing serious. Just weeks after movie executives and investors wondered how well 3D films would do this summer, they’ve begun to ask much tougher questions including: When will movie theater chains begin to cancel orders for 3D projection equipment? And could continued weakening in ticket sales force AMC Entertainment to shelve its plan to go public and raise as much as $450 million?

Defenders of the technology are urging everyone to wait and see whether there’s an uptick in 3D ticket sales for Paramount’s Transformers: Dark Of The Moon, which opens July 1, and Warner Bros’ Harry Potter And The Deathly Hallows, Part II, which opens July 15.  The films should “help provide for a more positive outlook” for 3D in general and particularly for 3D technology company RealD, says Merriman Capital analyst Eric Wold.

But investors didn’t appear to agree on Friday. RealD’s stock price fell 13.2% to $20.90 the day after executives responded to the Street’s concerns with talking points that simply urged people not to read too much into disappointing 3D sales for just a few films. RealD shares now have lost 41.3% of their value since May 19. “While management dismisses a change in consumer enthusiasm toward 3D, the public is speaking and 3D is simply being overused with ticket premiums far too high,” says BTIG analyst Rich Greenfield — who has a “sell” rating on RealD. Read More »

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IMAX CEO Rich Gelfond Hopes Blockbuster Summer Will Bail Him Out After 1Q Slump

Here’s the strange thing about IMAX these days: the large screen exhibitor reported terrible financial results for the first quarter although analysts were projecting it would continue to … Read More »

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IMAX Q1 Down Due To Box Office Slump

The box office’s poor performance during the first part of the year has impacted IMAX, too. The giant-screen exhibitor reported first-quarter results this morning that saw revenue and earnings down. “The first quarter lacked event films, particularly compared to the … Read More »

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