These factors, other risks and uncertainties and financial details are discussed in IMAX's most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. "Looking ahead to 2020, we continue to build out a strong slate headlined by a record number of releases filmed in IMAX® and proven franchise properties — demonstrating our longstanding relationships with world-class creators, our ability to create new opportunities to drive IMAX market share on key titles, and growing demand for our end-to-end technology," Gelfond added. (3)     Includes 50 theater systems where the customer has the option to convert from a joint revenue sharing arrangement to a sales arrangement. Network: The IMAX theater network consisted of 1,568 systems as of September 30, 2019, of which 1,473 were in commercial multiplexes, representing a year-over-year increase of 127 theaters, or 9.4%, and 1,065, or 72.3%, were located in international markets. NEW YORK , Oct. 31, 2019 /PRNewswire/ -- IMAX Corporation (NYSE: IMAX ), a global leader in entertainment technology, today reported financial results for the three months ended September 30, 2019 . That profit for the company equates to adjusted per share earnings of 35 cents, which was slightly better than the 30 cents per-share earnings analyst via Yahoo! Highlights for Third Quarter 2019(Note: Percentage and other changes refer to third quarter 2018 unless otherwise noted. This investment represents the Company's first foray into a commercial television property, and therefore the Adjusted EBITDA per Credit Facility metric presented above may not be reflective of the Company's typical operational activity. IMAX Sets New Company Box Office Record on Eve of 'Rise of Skywalker' Release, Imax China Names Edwin Tan as Chief Executive Officer, Common, Craig Robinson and Andy Samberg to Star in Superhero Comedy ‘Super High’ at New Line, Trump Immediately Removes Mask at White House After Leaving Hospital, Barstool Sports CEO Erika Nardini Joins WWE Board of Directors, Rulon Gardner Explains Why Talks With WWE Broke Down – Twice. Net income per share attributable to common shareholders -       basic and diluted: Weighted average number of shares outstanding (000's): (1)Includes $0.1 million and $0.4 million of amortization of deferred financing costs charged to interest expense for the three and nine months ended September 30, 2019, respectively (2018 - $0.4 million and  $1.0 million, respectively). The Company expects to provide such updates on Friday of each week, although the Company may change this timing without notice. Imax reported net income for the quarter of $18.2 million, up 973% compared to the $1.7 million the premium exhibitor reported during the same three-month period a year ago. Gelfond also took the opportunity to address the ongoing Caronavirus outbreak in China where Imax operates a significant portion of its business. Analysts were expecting Imax to report revenue of $43.6 million, so that was another miss. Q2 2018 Q2 2019 13 Network Update –IMAX Systems Pipeline Continued Strong Demand for IMAX Systems; High Visibility into Multi-Year Growth 635 612 Pipeline Source: Company Data 276 Joint Revenue Sharing Arrangements Sales/Sales Type Lease Arrangements Hybrid Traditional Sales/Sales Type Upgrades Q2 2019 Signings Installations Sales and STL 7 9 JRSA 2 13 Hybrid JRSA 45 5 Total … EBITDA and Adjusted EBITDA per Credit Facility (each as defined below) should not be construed as substitutes for net income or as better measures of liquidity as determined in accordance with U.S. GAAP. A reconciliation of cash provided by operating activities to free cash flow is presented in Table 10. “We look forward to circumstances improving and Imax continuing to satisfy China’s strong demand for premium quality content and entertainment experiences.”, Film Reporter covering the biz • trey.williams@thewrap.com • Twitter: @trey3williams, Movie Theaters Face a Winter of Bankruptcy as More Films Push to 2021, Regal Cinemas Parent Cineworld’s Stock Plunges 35% After ‘Temporary’ Closure of Theaters, Susan Rovner Named Chairman of NBCU Entertainment Programming, Conan O’Brien’s Team Coco Signs First-Look Podcast Deal With Audible, ‘Valley of the Gods’ Drama From Joanna Coles and Pete Nowalk in Development at ABC, Ratings: NFL Football Clobbers NBA Finals on Sports-Heavy Sunday, ‘MLK/FBI’ Director Risked Helping the FBI Tarnish Dr King’s Legacy Because Story Was That Important (Video), Movie Theater Stocks Hammered After Regal Announces Another ‘Temporary Suspension’, Ticketmaster Chairman Jared Smith to Step Down After 17 Years With the Company, Why ‘Fireball’ Producer Sandbox Films Doesn’t Need Talking Heads to Make Smart Science Documentaries, Regal Cinemas and Cineworld Movie Theaters to Close All US, UK Locations This Week, Oscars in April? IMAX systems segment margins include marketing and commission costs of $0.6 million and $1.5 million for the three and nine months ended September 30, 2019, respectively (2018 — $0.8 million and $2.0 million, respectively). Revenue for the quarter also took a big hit. Net Income Per Share Attributable to Common Shareholders, Adj. As a result, the Company is also presenting Adjusted EBITDA per Credit Facility excluding the impact of "Marvel's Inhumans" to better facilitate comparisons to prior and future periods. Imax shares were up more than 4% in after-hours trade on Wednesday. Investor Relations Website and Social MediaOn a weekly basis, the Company posts quarter-to-date box office results on the IMAX Investor Relations website located at www.imax.com/content/investor-relations. About IMAX CorporationIMAX, an innovator in entertainment technology, combines proprietary software, architecture and equipment to create experiences that take you beyond the edge of your seat to a world you've never imagined. To access the call via telephone, interested parties in the US and Canada should dial (800) 367-2403 approximately 5 to 10 minutes before the call begins. Free cash flow is defined as cash provided by operating activities minus cash used in investing activities (from the condensed consolidated statements of cash flows). Revenue for the fourth quarter hit $124.3 million, better than the $117.5 million analysts anticipated, and up compared with the $109 million Imax reported a year ago. “We are working closely with our studio partners to reshape our slate in the second half of 2020 and into 2021 — a period that is now scheduled to see an impressive offering of marquee blockbuster films,” he continued. Film distribution segment margins include marketing expense of $0.1 million and $0.7 million for the three and nine months ended September 30, 2019, respectively (2018 — expense of less than $0.1 million and $2.0 million, respectively). We look forward to circumstances continuing to improve in the market and meeting strong audience demand for immersive filmmaking and entertainment experiences.”. For the full year, Imax’s revenue hit a record $396 million. The decline in gross margin year-to-date was principally driven by lower margin on sales and sales-type leases due to the Company's decision to allocate additional resources to ensure the successful roll-out and launch of its new, Operating expenses, defined as selling, general and administrative expenses less stock-based compensation plus research and development costs are expected to be in-line with the. It was $80.2 million a year ago. We continue to monitor the situation and carefully plan for the reopening of theaters in China when it is safe. In 2019, Imax delivered a record year across global, international, and local language box office — underscoring the strength of our brand and product offering throughout an increasingly diverse geographic footprint. IMAX is headquartered in New York, Toronto and Los Angeles, with additional offices in London, Dublin, Tokyo, and Shanghai. “Operationally, we are focused on ensuring that we can support this rich content pipeline with our proprietary post-production process and our enhanced marketing capabilities. “When global economies restart, and theaters reopen, we believe audiences will turn to strong, trusted brands like Imax. The conference ID for the call is 3701970. However, as permitted by the Credit Facility, this loss was offset by addbacks of $nil and $13.3 million for amortization and by addbacks of $nil and $11.7 million for impairment charges relating to the investment, in each case for the three and twleve months ended September 30, 2018, respectively. The $39.6 million increase in gross box office was driven by a $26.5 million, or 39.8%, increase in international gross box office, excluding China, and a $14.4 million, or 23.3%, increase in domestic gross box office. However, whether actual results and developments will conform with the expectations and predictions of the Company is subject to a number of risks and uncertainties, including, but not limited to, risks associated with investments and operations in foreign jurisdictions and any future international expansion, including those related to economic, political and regulatory policies of local governments and laws and policies of the United States and Canada; risks related to the Company's growth and operations in China; the performance of IMAX DMR films; the signing of theater system agreements; conditions, changes and developments in the commercial exhibition industry; risks related to currency fluctuations; the potential impact of increased competition in the markets within which the Company operates; competitive actions by other companies; the failure to respond to change and advancements in digital technology; risks relating to recent consolidation among commercial exhibitors and studios; risks related to new business initiatives; conditions in the in-home and out-of-home entertainment industries; the opportunities (or lack thereof) that may be presented to and pursued by the Company; risks related to cyber-security and data privacy; risks related to the Company's inability to protect the Company's intellectual property; general economic, market or business conditions; the failure to convert theater system backlog into revenue; changes in laws or regulations; the failure to fully realize the projected cost savings and benefits from any of the Company's restructuring initiatives; and other factors, many of which are beyond the control of the Company.

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