MAX today commented that fourth quarter 2012 IMAX® DMR gross box office through Nov. 18, 2012, was approximately $61 million globally, primarily driven by SKYFALL: The IMAX Experience, which has grossed approximately $39 million across 454 IMAX® theatres worldwide.
The Company will report full fourth quarter 2012 box office results as part of its quarterly earnings call at the end of February. As previously indicated on its third quarter 2012 earnings call, beginning with the first quarter of 2013, the Company will no longer be reporting mid-quarter box office results.
Somehow the company did close to 20 million in October boxoffice.
Frankenweenie, Paranormal Activity 4 & Cloud Atlas in October.
Nice numbers for Skyfall, should be over 50 million after next weekend.
This is laziness on the part of managment. Sorry, but it's true.
Due to good reasons, IMAX is unable to predict revenues and/or profits. Ok, we can live with that. As such, though, they should make an effort to provide any additional transparency to investors that they can. They should ring a bell and record every time there's a new install and they're able to recognize a new theatre as revenue. They should give monthly (NOT EVEN QUARTLY) updates on Box Office stats. If you can't give better guidance, then you give more frequent reporting........NOT LESS!
This is the kind of stuff that keeps many institutional investors away from this company.
Oh, that and Gelfond himself, and "his" board. If the board was truly an independent body overseeing company management (as any board should be), this kind of stuff would just not fly.
But it isn't, and so this is what we get.
All in all, you might need one additional person to coordinate these number for the company. We're talking $75K x 1.5 for benefits. That's 1/100th an annual Gelfond share sale.