Imax shares jump on higher box office sales

Imax shares jump on higher first-quarter box office sales

Associated Press

Shares of big-screen theater company Imax Corp. jumped for the second day in a row Tuesday after it said its first-quarter box office sales were higher than a year ago.

On Monday, Imax shares rose more than 4 percent after the company said it would increase the number of theater systems it has in China.

THE SPARK: Imax said on its website Tuesday that box office sales in the quarter that ended Feb. 12 were about $55 million, up from the $38 million a year earlier.

THE BIG PICTURE: The company said its first-quarter box office was driven by $27 million from the film "Mission: Impossible - Ghost Protocol."

On Monday, the company said it would install four Imax theater systems for Broadway Theatre Company Ltd. in China. Imax now has 217 theaters open or expected to be opened in China.

SHARE ACTION: Shares rose $1.84, or 8.3 percent, to $23.91 by Tuesday afternoon. They have traded between $12.57 and $38 the past year.

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