IMAX Corporation Reports First Quarter 2020 Results
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IMAX Corp. (IMAX) Misses Q1 EPS by 34c, Revenues Miss
April 30, 2020 7:20 AM EDTIMAX Corp. (NYSE: IMAX) reported Q1 EPS of ($0.48), $0.34 worse than the analyst estimate of ($0.14). Revenue for the quarter came in at $34.9 million versus the consensus estimate of $43.24 million.
HIGHLIGHTS
A solid balance sheet and ample cash puts the Company in a strong position to operate through this historic period of COVID-19-driven theater closuresIn response to COVID-19, the Company has implemented cost reductions and drew on its revolver, ending the quarter with $352.3 million in consolidated cash and its $300 million revolver fully drawnThe Company estimates a monthly cash burn rate of... More