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IMAX Reports Q1 Loss, Revenue Decline Due to Coronavirus Pandemic

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No movie theaters = no ticket sales
Imax Corp. on Thursday reported a loss for the first quarter and revenue that was down significantly as a result of the global novel coronavirus pandemic.
The ongoing pandemic has had a severe impact on companies across the board and cinema exhibitors have been grossly impacted as chains around the world have been forced to shut down.
Imax reported a net loss of $49.4 million, or an adjusted per share loss of 48 cents, after reporting net income of $8.3 million, or 18 cents per share during the same quarter a year ago. Analysts following the stock via Yahoo Finance expected the company to report a loss per share of 14 cents.
Revenue for the quarter also took a big hit and was down 56% to $34.

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