Imax Corp., the operator of large-screen movie theaters, tumbled in extended trading after the company reported fourth-quarter profit that fell short of analysts’ estimates.
Profit excluding some items rose to 39 cents a share in the period, the Mississauga, Ontario-based company said Wednesday in a statement. That was less than the 42-cent average of estimates compiled by Bloomberg. Revenue grew 16 percent to $119.3 million, topping projections of $115.8 million.
Shares of Imax fell 9.8 percent to $29 and slumped as low as $27 after the results were announced.