Imax Guides Higher

The theater outfit sets a record for installations.

Author:: Sandy Brown
Publish date:: Feb 17, 2006 12:36 PM EST

Imax

jumped 10% Friday after the theater technology outfit guided higher for 2005.

The Toronto big-screen experience company said in a statement it expects to make 35 to 38 cents a share on revenue of $145 million to $150 million for the year ended in December.

During the fourth quarter, Imax completed 14 theater installations, a single-quarter record and consistent with previous guidance. The company, which is due to post fourth-quarter earnings on March 9, saw its stock rise 75 cents to $8.57.

"Imax's momentum and growth potential is building," said the co-CEOs, Richard Gelfond and Bradley Wechsler. "Imax set aggressive goals for theater signings, film performance, installations and financial results for 2005, and we are extremely pleased to report that we believe we have delivered on all fronts."

Imax is also trying to capitalize on positioning its theater systems as a platform for Hollywood blockbusters.

V for Vendetta

will be released in Imax shortly, followed by Wolfgang Peterson's

Poseidon

, as well as

Superman Returns

in early summer of 2006. A 3-D computer-generated film called

Ant Bully

and another CGI-animated effort called

Happy Feet

will also be available on Imax this year.