Imax Expecting to Post a Major Loss
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MISSISSAUGA, Canada — Imax Corp., a maker of big-screen projection equipment, said it will have a substantial loss for its 2000 fiscal year, citing a decline in sales because of a series of U.S. theater-chain bankruptcies.
The company was expected to earn 66 cents a share for the year, the average estimate of three analysts surveyed by First Call/Thomson Financial. Imax had net income of $17.8 million in the fourth quarter of 1999.
Imax said it had about $38 million in cash and equivalents at the end of December.
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