Analyst: IMAX Buoyed By Stronger-Than-Expected Box Office Results

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The following is an excerpt from a report compiled by Michael Pachter of Wedbush Securities.

IMAX (NYSE:IMAX) will report first-quarter 2014 (March) results before market open on Thursday and hold a conference call at 5:30 a.m. Pacific Time (dial-in: 800-820-0231, conference ID: 2860379; webcast: http://www.imax.com/corporate/investors).

We are increasing Q1 estimates to reflect stronger-than-expected box office results for IMAX. We are also increasing our expectations for Q2 and Q3 as details regarding the IMAX film slate are fleshed out. We expect Q1 revenue of $55 million and earnings per share of 9 cents, versus prior estimates of $53 million and 8 cents, and consensus of $51 million and 6 cents.

Captain America: The Winter Soldier, is producing summer blockbuster results in April, with $202 million since opening April 4. The highest-grossing film quarter-to-date in Q2:13 was The Croods, at roughly $63 million. Q2:14 is off to a very strong start, up 23.7 percent compared to last year. The results of Captain America are being bolstered by the success of The Avengers franchise, which also helped Thor: The Dark World, this past November.

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