TORONTO - Massive-screen movie company Imax Corp. rose to profitability in the fourth quarter with help from Hollywood mega-blockbuster "Avatar."
The Toronto-based company, which operates theatres around the world, reported a profit of $4 million, or six cents per diluted share for the quarter ended Dec. 31.
That compared to a $9 million loss, or 21 cents per share a year earlier.
Imax (TSX:IMX) said revenue jumped 98 per cent to $54.2 million from $27.4 million, marking a new quarterly record for the company.
The results were pushed higher by ticket sales for "Avatar," the biggest money-making theatrical release in history.
However, Imax noted that the film screened for only 12 days of the quarter. The rest of its ticket sales will be accounted for in the first quarter.