IMAX China Holding, Inc. Announces Audited Consolidated Earnings Results for the Year Ended December 31, 2015; Provides Tax Rate Guidance for the Year 2016
February 25, 2016 at 05:49 am IST
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IMAX China Holding, Inc. announced audited consolidated earnings results for the year ended December 31, 2015. For the year, the company reported revenues of $110,591,000 compared to $78,218,000 a year ago. Operating profit was $42,371,000 compared to $31,164,000 a year ago. Loss before income tax was $170,867,000 compared to profit before income tax of $29,066,000 a year ago. Loss for the year attributable to owners of the company was $181,865,000 compared to profit of $22,781,000 a year ago. Basic and diluted loss per share was $0.62 compared to basic and diluted earnings per share of $0.09 a year ago. Net cash used in operating activities was $156,000 compared to net cash provided by operating activities of $28,220,000 a year ago. Purchase of property, plant and equipment was $581,000 compared to $213,000 a year ago. Adjusted EBITDA of $64.8 million grew 58.5% year-over-year, resulting in EBITDA margins of 58.6%, up from 52.2% in the prior year. 2015 adjusted profit grew 66.9% year-over-year to $43,353,000 compared to $25,978,000 a year ago.
For 2016, the company expects its adjusted effective tax rate to be approximately in line with 2015.
IMAX China Holding, Inc. is an investment holding company principally engaged in the design and sale of image maximum (IMAX) theater systems. Along with subsidiaries, the Company operates its business through three segments. The Theatre Business segment is involved in the sale of theater systems, as well as the provision of installation and maintenance services. In addition, it is also involved in the aftermarket sales of three dimensions (3D) glasses, screen sheets, sounds, parts and other items. The Network Business segment is involved in the design, procurement and provision of digital theater systems, as well as the provision of related project management, ongoing maintenance services and aftermarket sales. The New Business and Other segment is involved in any other non-core business initiatives that are in development and/or start-up phase.
IMAX China Holding, Inc. Announces Audited Consolidated Earnings Results for the Year Ended December 31, 2015; Provides Tax Rate Guidance for the Year 2016