IMAX and Odeon Cinemas Expand Partnership

Europe’s Largest Exhibitor Adds IMAX® Theatre Following Success of Existing IMAX Digital Locations and Attractive IMAX Film Slate

TORONTO, Mar 15, 2010 (GlobeNewswire via COMTEX) — IMAX Corporation (Nasdaq:IMAX) (TSX:IMX) and ODEON & UCI Cinemas Group, Europe’s largest exhibitor, today announced an agreement to install an IMAX® digital theatre system in the exhibitor’s multiplex in Southampton, England. The deal, which brings the total number of IMAX theatres operated by ODEON to six, was signed as a result of the growing success and popularity of the exhibitor’s other IMAX locations including digital IMAX venues in Wimbledon, Greenwich, Gateshead and Cardiff. The deal also follows the record-breaking box office success of the IMAX® 3D release of Avatar, which has grossed more than $8 million from nine IMAX screens in the United Kingdom and approximately $220 million from 262 IMAX screens worldwide. The five existing ODEON IMAX screens also witnessed a record breaking weekend for the IMAX 3D release of Disney’s Alice in Wonderland featuring Johnny Depp, posting strong pre-sales and numerous sold out shows. The new ODEON location will capitalize on IMAX’s growing Hollywood film slate and is scheduled to open in time for the IMAX 3D release of DreamWorks Animation’s How to Train Your Dragon on April 2, 2010.

“The incremental boost in performance that we receive by adding an IMAX theatre to our existing complexes helps to drive our bottom line and our overall box office, but most importantly, it gives ODEON customers the premium cinema experience they are looking for,” said Rupert Gavin, CEO of ODEON & UCI Cinemas Group. “The exceptional performance of our IMAX locations clearly demonstrates that the premium IMAX option is attracting more patrons to our complexes.”

“We are very excited to extend the IMAX offering to the south coast in our Southampton location and believe there are still more opportunities for ODEON and IMAX in the future,” added Roger Harris, Managing Director, ODEON Cinemas.

“Our expanding partnership with ODEON & UCI Cinemas Group, Europe’s largest exhibitor, continues to strengthen the alignment of our brand with one of the most recognized cinema brands in the world,” said IMAX CEO Richard L. Gelfond. “We’re delighted to expand the ODEON/IMAX footprint in the UK, as Alice in Wonderland builds on our recent success with Avatar, and look forward to sharing our strong film slate with moviegoers in Southampton, starting with the IMAX 3D release of How to Train Your Dragon.”

“I am very happy to see ODEON and UCI Cinemas Group’s ongoing success with the IMAX business. IMAX has been driving revenue and foot traffic at each Odeon multiplex we are operating in, and the results are impressive,” added Larry O’Reilly, Executive Vice President of Theatre Development. “The Group’s endorsement of our digital projection system reinforces the power of The IMAX Experience® in a multiplex setting.”

IMAX’s digital projection system delivers The IMAX Experience and helps drive profitability for studios, exhibitors and IMAX theatres by eliminating the need for film prints, increasing program flexibility and ultimately increasing the number of movies shown on IMAX screens. The system can run both IMAX and IMAX 3D presentations.

Press Release >>

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IMAX posts record Q4 revenue, stocks up

IMAX Corporation’s recent fourth quarter report showed a revenue of $54.2 millions, 98% higher than last year’s total Q4 revenue of $27.4 million. IMAX stock has also doubled in a year; things are finally looking up for the company. Check out the latest financial and stock analysis from around the web:

The Globe and Mail: Imax surges, but the plot line looks predictable

EmailWire.com: Tuesday’s Most Active Stock Movers (CTIC, BC, IMAX, VIP, CMA, DRYS, SIRI) | Stocks Up After Earnings (TICC, DPTR, HITK, IMAX, BKE)

Investor’s Business Daily: U.S. Stocks Extend Gains

TradersHuddle.com: Earnings Preview: IMAX

RTT News: IMAX Turns To Profit In Q4 – Quick Facts | Imax rebounds to profit, sees strong first quarter

Associated Press: Imax posts 4Q profit, reversing loss

Reuters: Imax posts profit, sees strong first quarter

USA Today: Media Morning: Funds start to flow for digital cinema expansion, Imax

Barron’s: IMAX Posts Blowout Q4; There’s More Where That Came From

FoxBusiness: ‘Avatar’ Carries IMAX to 98% Revenue Jump

US Post Today: Movie Company – IMAX Posts 4Q Profit On 98% Revenue Jump

The Wall Street Journal: Canada Hot Stocks: Transat, Plutonic Power, Imax, Pramount, Crew, Norbord | Imax Corp. Posts 4Q Profit On 98% Revenue Jump

The Motley Fool: IMAX Sees a River of Green

Short-Term Trading: IMAX Corporation (IMAX) Profits Jump

Momentum Options Trading: IMAX ROCKS THE BOX (OFFICE)

Forbes: IMAX Chief Says Avatar Is Just The Start

LearningMarkets: IMAX Corporation Meets Analyst Expectations; IMAX, EK, BTN

tickerspy: Amid Bullish Signals, Investors Need to Keep Their Cool (BKE, MW, IMAX, SFD, GYMB, TICC, NTRI)

The Hollywood Reporter: Imax profits from ‘Avatar’ halo effect

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IMAX Corporation to Present at the ROTH 22nd Annual OC Growth Stock Conference

NEW YORK, Mar 11, 2010 (GlobeNewswire via COMTEX) — IMAX Corporation (Nasdaq:IMAX) (TSX:IMX) today announced that Richard L. Gelfond, CEO of IMAX Corporation, will present at the ROTH 22nd Annual OC Growth Stock Conference on Tuesday March 16,2010 at 4:30pm Pacific Time. The conference is being held at The Ritz-Carlton in Laguna Niguel, California.

The presentation is being webcast live and can be accessed by visiting the Investor Relations section of the Company’s website, www.imax.com. The presentation will be archived for 30 days.

Press Release >>

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Hubble 3D premieres at Air & Space Museum

IMAX’s latest film Hubble 3D premiered at Washington, DC’s Smithsonian National Air & Space Museum. collectSPACE reports on the event:

A full-scale Hubble engineering model towers over premiere party-goers at the National Air and Space Museum.

The star of the Warner Brothers’ new IMAX film “Hubble 3D” was missed Tuesday evening at the movie’s world premiere at the Smithsonian National Air and Space Museum but for good reason: it was orbiting 350 miles above Earth.

The Hubble Space Telescope’s absence notwithstanding, the celebration saw the film’s co-starring astronauts walk the red carpet to see for the first time the telescope’s “life story” unfold on the museum’s five-story screen.

The movie’s debut, which traded Hollywood stars for the celestial variety, featured the NASA astronaut crew of the fifth and final space shuttle Hubble servicing mission who in May 2009 repaired and upgraded the telescope while also filming their work using an IMAX 3D camera mounted in Atlantis’ payload bay.

“It’s like experiencing the flight one more time,” STS-125 mission commander Scott Altman told collectSPACE.com before the screening. “I can’t wait to go there again.”

Altman, who with spacewalkers John Grunsfeld and Mike Massimino, pilot Greg C. Johnson, and mission specialist Megan McArthur attended the premiere, also shot scenes from inside the orbiter using HD cameras, which were then digitally upsized for the large-format film.

Read the full article and view images from the premiere here: Link >>

UPDATE: More Hubble 3D coverage:

Gearlog: Hubble IMAX 3D: The Next Best Thing to Being in Space

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DocumentaryTech profiles filmmaker Stephen van Vuuren

DocumentaryTech has profiled filmmaker Stephen van Vuuren and his latest Giant Screen project, Outside In. Using tens of thousands of still images manipulated to create full motion, the film takes audiences from the big bang to our present day. Outside In is scheduled for release to IMAX and other Giant Screen theaters November 11, 2011. DocumentaryTech writes:

Stephen van Vuuren was about to be promoted to VP of a Fortune 500 company. But he turned it down in order to pursue his dreams of crafting an IMAX documentary of a “literal single take journey from the moments before the big bang to earth 500,000 years ago to the year 2050 on earth then to Saturn and back to Earth.”

Influenced by Carl Sagan’s Cosmos, van Vuuren “dreamed of being an astronaut and actually was accepted (but could not afford to attend) MIT as an astrophysics major,” he explains in an interview. “However, a year later I saw Stanley Kubrick’s 2001 and heard the call to filmmaking.”

Taking his love for space exploration, van Vuuren utilizes hundreds of thousands of NASA spacecraft archive images to take his audience on a journey of sights and sounds, a journey he hopes will provide a perspective on a grand scale, one by which he hopes will allow someone to look from the outside in, and “change how we see ourselves” by “taking the journey [of] these spacecraft and seeing through their eyes.”

But it won’t all be made up of NASA space images. He says the film “ends up being a journey through the transformative archive of human images from cave paintings to our near future. I will end up having images from every era and section of human history in the film.”

Read the full article here: Link >>

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IMAX Corporation Reports Fourth Quarter & Full Year 2009 Financial Results

HIGHLIGHTS, Mar 11, 2010 (GlobeNewswire via COMTEX)

– Strong Fourth Quarter Caps Year of Positive Financial Results, Record Number of System Installations & Strengthened Balance Sheet

– Momentum from 2009 Carries into 2010; Q1 ‘10 Box Office to Date Equals $187 Million vs. $14 Million At Same Point In Q1 ‘09, Fueled by Avatar: An IMAX 3D Experience & Alice in Wonderland: An IMAX 3D Experience

TORONTO, March 11, 2010 (GLOBE NEWSWIRE) — IMAX Corporation (Nasdaq:IMAX) (TSX:IMX) today reported that fourth quarter adjusted EBITDA was $20.9 million, compared to $2.6 million for the fourth quarter last year. Total revenue for the fourth quarter ended December 31, 2009, increased 98% to $54.2 million, a record for a single quarter for the Company, compared to total revenue of $27.4 million in the same period last year. Fourth quarter adjusted net income which excludes the impact of variable stock compensation was $12.9 million, or $0.20 per diluted share, compared to an adjusted net loss of $9.7 million, or $(0.22) per share on the same basis last year. Reported net income was $4.0 million, or $0.06 per diluted share, for the fourth quarter ended December 31, 2009, compared to a reported net loss of $9.0 million, or $(0.21) per share for the fourth quarter last year.

For the twelve-months ended December 31, 2009, adjusted EBITDA was $58.5 million, compared to $8.2 million last year. Total revenue increased 67% to $171.2 million, a record for a full-year for the Company, compared to $102.7 million for the twelve-months ended December 31, 2008. Fiscal 2009 adjusted net income which excludes the impact of variable stock compensation was $20.5 million, or $0.38 per diluted share, compared to an adjusted net loss of $33.6 million, or $(0.79) per share on the same basis last year. Reported net income increased to $5.0 million, or $0.09 per diluted share during fiscal 2009, compared to a reported net loss of $33.6 million, or $(0.79) per share during fiscal 2008. For a reconciliation of reported results to adjusted results and the definition of adjusted EBITDA as defined by the Company’s credit facility, please see the tables at the end of this press release.

“Our primary goals for 2009 were to return to profitability and recapitalize our balance sheet and we are pleased to have delivered on both,” stated IMAX Chief Executive Officer Richard L. Gelfond. “Our fourth quarter results are an exclamation point to a year in which our multiplex theatre network grew by 38%, our strong film slate drove our per screen average to $1.2 million and we refinanced our balance sheet which will enable us to continue to grow and invest in our business.”

Mr. Gelfond continued, “While the success of Fox’s Avatar: An IMAX 3D Experience drove our year-end performance and has provided a very strong start to 2010, we believe the film has many positive implications for our business over the long term. A significant number of moviegoers around the world experienced IMAX for the first time, which we believe has added new repeat customers to our theatres and reinforced the power of The IMAX Experience with both studios and exhibitors. We anticipate that our business momentum — from theatre signings, to our record $187 million of box office quarter-to-date – is positioning us to deliver a strong first quarter of 2010.”

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Video: Prince of Persia trailers, clips posted

We’ve posted the latest trailers and clips to Disney’s Prince of Persia: The Sands of Time. Directed by Mike Newell and starring Jake Gyllenhaal, the film comes to IMAX theaters May 28, 2010.

Teaser

Trailer

Watch more videos after the jump.

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Images from Prince of Persia: The Sands of Time posted

We’ve posted the latest images from Prince of Persia: The Sands of Time. Directed by Mike Newell and starring Jake Gyllenhaal, the film comes to IMAX theaters May 28, 2010.

Jake Gyllenhaal. Photo: Andrew Cooper, SMPSP. © Disney Enterprises, Inc. and Jerry Bruckheimer, Inc. All rights reserved.

View the rest of the images after the jump.

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Walt Disney Pictures’ and Jerry Bruckheimer Films’ Prince of Persia: The Sands of Time to be Released to International IMAX® Theatres On May 28, 2010

Epic Action- Adventure to Get IMAX Treatment for Enhanced International Release

LOS ANGELES, Mar 10, 2010 (GlobeNewswire via COMTEX) — IMAX Corporation (Nasdaq:IMAX) (TSX:IMX) announced that the epic action-adventure Prince of Persia: The Sands of Time, from Jerry Bruckheimer Films, directed by Mike Newell and starring Jake Gyllenhaal, will be released to IMAX® theatres internationally with the film’s wide release on May 28, 2010. The film’s limited international IMAX release will be digitally re-mastered into the image and sound quality of The IMAX Experience® with IMAX DMR® technology. The crystal-clear images coupled with IMAX’s customized theatre geometry and powerful digital audio create a unique environment that will make audiences feel as if they are in the movie.

“Once again our expanded network of IMAX locations is enabling us to offer moviegoers around the world more compelling content ideally suited to The IMAX Experience,” said IMAX CEO Richard L. Gelfond. “The success of our international theatre network is a key component of our growth, and we are delighted to secure this highly anticipated summer title for our international exhibitor partners.”

“We’re revved up that moviegoers throughout our international territories will have the opportunity to experience this epic adventure in IMAX theatres,” added Greg Foster, Chairman and President, IMAX Filmed Entertainment. “Walt Disney Pictures is continuing to add blockbuster releases to our growing slate, and it’s a particular treat with ‘Prince of Persia’ as it kicks off our relationship with hit maker Jerry Bruckheimer.”

Prince of Persia: The Sands of Time hits theaters everywhere on May 28, 2010. Set in the mystical lands of Persia, Prince of Persia: The Sands of Time is an epic action-adventure about a rogue prince (JAKE GYLLENHAAL) and a mysterious princess (GEMMA ARTERTON) who race against dark forces to safeguard an ancient dagger capable of releasing the Sands of Time–a gift from the gods that can reverse time and allow its possessor to rule the world. The film is directed by Mike Newell with a screenplay by Boaz Yakin and Doug Miro and Carlo Bernard from a screen story by Jordan Mechner.

Press Release >>

UPDATE: Additional coverage on the IMAX Prince of Persia release:

Boxoffice Magazine: ‘Prince of Persia’ Set for IMAX Screens

The Hollywood Reporter: Imax releasing ‘Prince of Persia’ in late May

Collider.com: PRINCE OF PERSIA: SANDS OF TIME Will Play in International IMAX Theaters

Showing Out: “Prince of Persia” to Get IMAX Release

HeyUGuys: Prince of Persia Is Getting the IMAX treatment

Disnology: Imax to Release Super Sized Version of ‘Prince of Persia: The Sands of Time’

IGN: The Prince of IMAX

GeekTyrant: PRINCE OF PERSIA: SANDS OF TIME will get Simultaneous IMAX Release

FilmoFilia: New Prince of Persia Poster and IMAX News

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IMAX and CJ CGV Co., Ltd. Expand Relationship With Joint Venture Deal for Up to 15 New IMAX® Theatres in Korea

Leading Exhibitor Commits to 10 New Joint-Venture Locations, Option to Increase to 15

Expansion Follows Success of CJ CGV’s Existing IMAX Locations

SEOUL, Korea, March 10, 2010 (GLOBE NEWSWIRE) — IMAX Corporation (Nasdaq:IMAX) (TSX:IMX) today announced that CJ CGV Co. Ltd., the leading theatre exhibitor in Korea, has signed an agreement to install up to 15 new digital IMAX® theatre systems, with the rollout scheduled to begin later this year, and to upgrade four existing film-based IMAX theatres to digital systems. The agreement was signed following the success of the exhibitor’s five existing IMAX locations in Seoul, Daegu and Gwangju, where the current IMAX® 3D release of Avatar has generated more than $6.5 million.

“Our IMAX theatres are boosting attendance and driving more traffic to our multiplexes, which positively impacts our bottom line,” said Mr. Kim Joo Hyung, CEO of CJ CGV. “IMAX’s digital theatre system and joint venture model improves the economics of the IMAX theatre business for us, which creates even more opportunities to expand our relationship and offer more customers The IMAX Experience(R) at more locations.”

Under the terms of the agreement, CJ CGV will add 10 new joint venture locations in the major cities of Korea with an option to increase that number to fifteen. The rollout of new locations is expected to begin later this year. Additionally, the exhibitor will upgrade four of its existing IMAX film-based locations, which are not structured as joint ventures, to IMAX’s digital projection system. The upgrades will bring the exhibitor’s total digital IMAX (non-JV) locations to five, and the exhibitor’s total combined IMAX tally to a minimum of 15. The upgrades are expected to be completed by the end of April 2010.

“Demand for The IMAX Experience is increasing in South Korea, a market we believe holds great potential, especially as we expand our overall presence in the Asia-Pacific region,” said IMAX CEO Richard L. Gelfond. “Our international growth strategy is based on building momentum with existing successful relationships. We’ve been in business with CJ CGV for five years, and we are very pleased to expand with such a strong exhibitor.”

“CJ CGV has marketed the IMAX brand in creative and tailored ways that have generated more consumer awareness in Korea, and we’re now seeing that awareness translate into greater demand and further growth,” added Larry O’Reilly, IMAX’s Executive Vice President, Theatre Development. “We are looking forward to sharing future success with CJ CGV as it expands its IMAX footprint in South Korea.”

Press Release >>

UPDATE: More coverage on IMAX’s South Korea theaters:

Reuters: Imax signs JV for up to 15 theaters in South Korea

Variety: Imax growing on Korean audiences

The Hollywood Reporter: Imax, Korean chain pact for up to 15 more

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IMAX Corporation to Present at the Gabelli 2nd Annual Digital Cinema & Movie Conference

NEW YORK, Mar 10, 2010 (GlobeNewswire via COMTEX) — IMAX Corporation (Nasdaq:IMAX) (TSX:IMX) today announced that Richard L. Gelfond, CEO of IMAX Corporation, will present at the Gabelli 2nd Annual Digital Cinema & Movie Conference on Thursday, March 11, 2010 at 11:30am Eastern Time. The conference is being held at The Harvard Club in New York, New York.

The presentation is being webcast live and can be accessed by visiting the Investor Relations section of the Company’s website, www.imax.com. The presentation will be archived for 30 days.

Press Release >>

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The Surfing Scientist presents at Sydney’s IMAX for Ultimate Wave Tahiti launch

Sydney, Australia’s LG IMAX blog writes on the events held for The Ultimate Wave Tahiti launch, including a presentation from “The Surfing Scientist,” Ruben Meerman:

Ruben replaces his 3D glasses with safety goggles to perform the liquid nitrogen experiement for teachers.

Teachers were treated to a special presentation by ABC TV personality Ruben Meerman, also known as the “The Surfing Scientist”. Being an avid surfer, science communicator and all-round-nice-guy, Ruben captivated teachers at two teacher preview events held to launch the film Ultimate Wave Tahiti 3D.

Ruben’s liquid nitrogen demonstration – a first for our auditorium – helped illustrate the cooling and heating of the atmosphere that ultimately creates the wind that whips up the ocean into foamy peaks otherwise known as …. waves.

Read the rest of the article and view more great pictures here: Link >>

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Lancaster, PA to get IMAX theater

Pennsylvania’s LancasterOnline.com reports:

Local movie buffs who’ve ventured far and wide to witness the spectacular brilliance of giant IMAX screen movies will soon be treated to the experience closer to home.

Penn Cinema has signed an agreement with IMAX Corp. to show movies in a new 20,000-square-foot complex in Manheim Township that will feature two restaurants, Penn Ketchum, Penn Cinema managing partner, said Monday.

Ketchum said Penn Cinema will build a 425-seat IMAX theater that is flanked by two 5,000-square-foot restaurants. The new $5 million project, to be built on the east side of the existing theater off Airport Road, is on a four-acre parcel of land that is leased from Lancaster Airport.

Construction is set to begin this summer, and the theater is scheduled to open by November, in time for the premier of “Harry Potter and the Deathly Hallows Part I” (or Harry Potter 7), Ketchum said.

Ketchum said that customers have clamored for the IMAX experience, which will feature mind-blowing digital sound in both 3-D and 2-D movies beaming from a 6-story wraparound screen.

Article >>

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Video: Tron Legacy teaser now online

The teaser to Tron: Legacy has been released online.

The film follows Sam Flynn (GARRETT HEDLUND), the tech-savvy 27-year-old son of Kevin Flynn (JEFF BRIDGES), who looks into his father’s disappearance and finds himself pulled into the digital world of Tron where his father has been living for 25 years.

Tron: Legacy comes to IMAX 3D theaters December 17, 2010.

BMZ Film Page >>

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Avatar IMAX showings extended in Philippines

James Cameron’s epic Avatar will continue to play in two IMAX theaters in the Philippines. The Intersections & Beyond blog writes:

The indescribable experience of watching Avatar at IMAX has been a major topic among friends since it opened last December 17, 2009. With crystal clear images, laser-aligned digital sound, and maximized field of view, it’s no wonder that after months and months of screening, everyone who missed out still wants to flock over to IMAX Theatres to see for themselves how it feels like to be “inside the movie.”

So to submit to constant requests, Avatar will continue showing at IMAX Theatre SM City North Edsa and IMAX Theatre SM Mall of Asia.

Don’t miss this chance for the most immersive movie experience yet!

Article >>

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