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IMAX Expands in China (IMAX)

January 04, 2006 | about stocks: IMAX

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IMAX Corporation (ticker: IMAX) announced an agreement yesterday with China property developer Sailun Real Estate Development Company to install an IMAX theatre system in a new commercial retail and entertainment development in Kunming, China. There are currently six IMAX theatres open in China and nineteen more scheduled to open by 2008. During management's most recent earnings conference call in November IMAX Co-Chairman and Co-CEO Brad Wechsler had the following to say about the recent launch of Warner Brother's Charlie and the Chocolate Factory, the IMAX Experience:

Brad Wechsler - IMAX - Co-Chairman & Co-CEO

Shanghai's Peace Theater has reported running Charlie for 4 to 5 shows a day, at between 55 and 65% capacity, at close to $10 US per ticket.

The Chinese film market, for example, is notoriously difficult to enter, because of film quotas and only the IMAX version of Charlie, not the 35-millimeter version, was granted the proper approvals to be exhibited.

(Quotes are from the CCBN StreetEvents transcript.)

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