IMAX beats by $0.06, beats on revs; Board approves incremental $50.0 mln increase to the repurchase allowance under previously-announced share repurchase program:
- Reports Q1 (Mar) earnings of $0.22 per share, $0.06 better than the Capital IQ Consensus of $0.16; revenues rose 48.1% year/year to $92.1 mln, vs the $83.91 mln Capital IQ Consensus, primarily due to strong box office.
- Company's board of directors approved an incremental $50.0 million increase to the repurchase allowance under its previously-announced share repurchase program, for an aggregate repurchase allowance of $200.0 million.
- Global Box Office of $272 million, up 64% from Q1 2015, driven by strong growth domestically and continued strength in international markets
- Adjusted EBITDA grew 97% year-over-year to $31.5 million, resulting in adjusted EBITDA margins of 37.4%, up over 1,000 basis points from Q1 2015
- Signings growth of 71%, with 36 new signings up from 21 in Q1 2015
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