IMAX saw a four-per-cent drop in revenue and a net loss of $1.7m (£1.3m/€1.5m) during the three months to June 30.
The global big-screen movie theatre chain generated revenue of $87.8m across its 1,257 theatres in 75 countries.
Gross box office from IMAX titles was up about three per cent to almost $270m, but per-screen box office averages were down more than $30,000 to $237,800 per screen. It said the drop was due to poor performance in China, which it said was due to weak content as well as the ramp-up period it sees with newly installed locations.
The operator brought in signed agreements for 92 new locations in the second quarter, and it installed 34 theatres.
It said its backlog of 580 theatres was at an all-time high, leaving it with plenty of future installation business.
Its theatre business segment revenue was $32.7m in the quarter, compared with $38.9m in the prior-year comparative period.
“We continue to take a portfolio approach to our film business, understanding certain films resonate strongly with consumers and others less so,” said chief executive Richard L. Gelfond.
“While several films in the second quarter underperformed our expectations, the recent release of Christopher Nolan’s Dunkirk emphasises the value in viewing our business as a portfolio of films. Dunkirk, which was shot almost entirely with IMAX film cameras, achieved $12m domestically and indexed a record 23 per cent in IMAX, opening weekend.
“Breakout titles like this are encouraging as they tend to provide strategic benefits lasting well beyond the window of the film.
“Historically, with other IMAX hits, we have seen increased consumer awareness of IMAX, heightened demand from other filmmakers looking to leverage our format and greater demand from exhibitors, among other benefits.”
The company is headquartered in New York, Toronto and Los Angeles, with additional offices in London, Dublin, Tokyo, and Shanghai.
IMAGE: IMAX
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