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Imax tops Street 4Q forecasts

ONTARIO CANADA, Ontario (AP) _ Imax Corp. (IMAX) on Thursday reported fourth-quarter earnings of $8.9 million.

On a per-share basis, the Ontario Canada, Ontario-based company said it had profit of 13 cents. Earnings, adjusted for stock option expense, came to 22 cents per share.

The results exceeded Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 21 cents per share.

The entertainment technology company posted revenue of $106.9 million in the period, which also beat Street forecasts. Seven analysts surveyed by Zacks expected $98.2 million.

For the year, the company reported profit of $28.8 million, or 42 cents per share. Revenue was reported as $377.3 million.

Imax shares have decreased almost 1 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $31.15, a drop of almost 1 percent 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 https://www.zacks.com/ap/IMAX

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Keywords: Imax, Earnings Report