4. IMAX Corporation (IMAX) is a motion picture technology company engaged in the design, manufacture and sale of digital theater systems.
During the first quarter of 2011, the company signed contracts for 101 theater systems, compared to 41 signed in the first quarter of the prior year. IMAX now expects to install between 115 and 125 new theaters in 2011, higher than the earlier estimated 80 to 90 installations.
Management expects its commercial theater network to grow at least 30% in 2011, for the third consecutive year. Management foresees international and small-to-mid-tier domestic markets as growth areas. Richard L. Gelfond, IMAX CEO, commented on the growth areas, "We made significant inroads in several of the BRIC nations, particularly in China, where we signed our first full joint revenue sharing arrangement for 75 theaters with Wanda Cinema Line, the largest international theater deal in our history. Domestically, we continued to penetrate small to mid-tier domestic markets with new theater agreements with prominent regional exhibitors like Premiere Cinema Corp. and Warren Theatres."On average, analysts expect the stock to gain 25% over the next year. The stock is trading at 21 times its estimated 2012 earnings with 63% buy ratings.
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