Date: 9th November 2000

As Expected, IMAX Reports A Loss

Citing "difficult financial conditions in the North American commercial exhibition industry," Imax on Wednesday reported a loss of $1.18 million in the third quarter, down from a profit of $3.24 million in the same quarter a year ago. The company had issued a profit warning in October. Meanwhile, the company said that it had dropped plans to release DreamWorks' animated Shrek in Imax 3-D next year due to "creative changes" instituted by the studio. Unlike Disney's Fantasia, which was originally released in the Imax format, Shrek was set to debut first as a conventional 2-D feature in May to be followed in December with the 3-D Imax version, complete with a new ending.

Source: Studio Briefing