Imax 3Q revenue jumps 32%

Giant screen maker Imax Corp. Thursday said a strong performance at its growing network of theaters led to an earnings uptick last quarter. Revenue jumped 32 percent to $67.5 million for the three months ended in September. Net income rose to $8.4 million from $6.7 million. Imax CEO Richard Gelfond cited a ''combination of strong film performance, a growing theater network and prudent expense management'' and said the quarter ''demonstrates the operating leverage that will propel our growth going forward.'' Total film revenue rose to $26.6 million from $21.0 million. Production and Imax DMR revenues increased 50 percent to $18.6 million, primarily reflecting the growth of the Imax theater network from the year earlier. Gelfond said it was the highest-grossing box office quarter since the first quarter of 2010 (which included Avatar) driven by ''Transformers: Dark of the Moon'' and the last ''Harry Potter'' installment. Gross box office from DMR titles increased 53 percent to $149 million. The average DMR box office per screen in the third quarter was $356,200 ($257,200 domestic, $560,000 international). Coming lineup includes a five-day preview of ''Mission: Impossible - Ghost Protocol The Imax Experience,'' ''The Amazing Spider-Man,'' ''The Hobbit: An Unexpected Journey'' and ''The Dark Knight Rises,'' which is currently being filmed using Imax cameras.'' Sales from joint revenue sharing arrangements increased 54 percent to $10. During the quarter, the company installed 14 new theaters under joint revenue sharing arrangements, versus 18 in the year-ago period. As of Sept. 30, 2011, there were 218 Imax theaters operating under joint revenue sharing arrangements, versus 144 the year before. Imax said it expects to have between 490 and 500 commercial multiplex theaters in operation by year-end, implying commercial network growth in 2011 of over 30 percent. Imax said it has a record backlog of orders for 295 theater systems at the end of the quarter. Some 80 percent of the backlog is international. Company said international theaters generate twice the box office of domestic theaters. Contact the Variety newsroom at news@variety.com