IMAX loss deepens on digital technology costs

TORONTO (Reuters) - Giant-screen movie theater firm Imax Corp (IMX.TO: ) reported a deeper second-quarter loss on Thursday as it continued to invest in its transition to digital technology. Mississauga, Ontario-based Imax also said it delivered and installed its first digital projection systems at three AMC Entertainment theaters in the United States. The company lost $12.2 million, or 29 cents a share, in the period ended June 30, compared with a loss of $4.5 million, or 11 cents a share, in the year-earlier period. Revenue slipped to $21.2 million from $27.1 million, the company said. Investors appeared disappointed by the results, driving Imax shares 50 Canadian cents, or 6.1 percent, lower to C$7.69 on the Toronto Stock Exchange on Thursday morning. The second-quarter results reflected "investments made to transition the... [read full story]