'The safety of our team and audiences is our top priority,' Richard Gelfond stated.
Security guards wearing protective facemasks, amid concerns of the coronavirus outbreak, patrol on a shopping area in Beijing on February 17, 2020.Star Wars: Rise of Skywalker, Frozen 2helped Imax beat a Wall Street analyst forecasts for fourth-quarter earnings and revenues.
Imax saw overall revenues of $124.3 million for the fourth quarter, up from a year-earlier $108.9 million. That beat Wall Street expectations for overall revenues of $117.5 million. Imax also posted record full-year 2019 box office of $1.1 billion, up 7 percent over the year-earlier period. “We look forward to circumstances improving and Imax continuing to satisfy China’s strong demand for premium quality content and entertainment experiences," he added ahead of an afternoon analyst conference call.
Gelfond looked beyond the current virus outbreak, which he called a "serious, short-term challenge," to when the Coronavirus crisis passes and Chinese moviegoers return to the local multiplex, not least to get out of their homes. "We're confident the business will rebound once conditions in China normalize," he told analysts.
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