IMAX Shares Jump 11%

IMAX Corp. (NASDAQ:IMAX) shares are up 11% today at $2.73 and 80% in the last 12 months.  Today's climb comes on news that IMAX will open 75 new theaters in China.

Imax (IMAX) shares have traded between $12.10 and $32.3 over the past 12 months.  Imax shares are trading with a P/E Ratio of 17.7 and EPS of 1.5.

The company's box-office sales for China climbed 10-fold last year to $43.6 million from 2009. Imax currently has 45 theaters in China, with an additional 57 already in the pipeline. The company also announced the creation of Imax China to oversee the expansion.

Richard L. Gelfond, Imax's CEO said, "As disposable income has increased in China, the demand for entertainment, particularly a movie experience, has dramatically increased. To meet that demand, the creation of a more robust exhibition infrastructure is crucial."

The 75 theaters could add around $25 million in annual revenue to the company, which had revenue of about $250 million in 2010.

Over half of the company's revenue comes from the U.S., but international expansion is expected to accelerate rapidly, especially in China and India, and the company says the European market is under-served .

SOURCE: http://www.tradethetrend.com/