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Imax beats 1Q net income and revenue expectations

ONTARIO, Ont. – ONTARIO CANADA, Ontario (AP) _ Imax Corp. (IMAX) on Thursday reported first-quarter earnings of $9.5 million.

The Ontario Canada, Ontario-based company said it had profit of 14 cents per share. Earnings, adjusted for stock option expense, were 22 cents per share.

The results beat Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 16 cents per share.

The entertainment technology company posted revenue of $92.1 million in the period, also beating Street forecasts. Five analysts surveyed by Zacks expected $82.9 million.

Imax shares have declined slightly more than 7 per cent since the beginning of the year. The stock has declined 10 per cent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on IMAX at http://www.zacks.com/ap/IMAX

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Keywords: Imax, Earnings Report