On April 4, the IMAX Corporation will release the IMAX DMR version of Shine A Light, the Rolling Stones concert film directed by Academy Award(R)-winning filmmaker Martin Scorsese. Then, as announced last week, on May 9 the Company will partner with Warner Bros. Pictures to release Speed Racer: The IMAX Experience. This action-packed adventure from The Wachowski Brothers, the creators of The Matrix trilogy, is based on the hit animated series created by Tatsuo Yoshida and is expected to perform well heading into the summer movie season. This will be followed on June 8 by the release of the first film in the recently announced four-film deal with DreamWorks Animation, Kung Fu Panda: The IMAX Experience. The next installment in the Batman series, The Dark Knight: An IMAX Experience, will follow in July and again stars Christian Bale as Batman and Bruce Wayne. Finally, Harry Potter and the Half-Blood Prince: An IMAX 3D Experience is scheduled for November.
Messrs. Gelfond and Wechsler commented, "A compelling film slate helped drive our key business initiatives in fiscal 2007, and we are optimistic that this year will demonstrate similar strength on the film side. We are actively negotiating for one remaining slot for 2008, and believe the year features a host of films that are perfectly suited to the immersive IMAX Experience(R). We have already announced three films for 2009 and 2010 as part of our four-picture deal with DreamWorks Animation, and have several great prospects to fill out future film slates," concluded Messrs. Gelfond and Wechsler.
For the three months ended December 31, 2007, the Company's total revenues were $32.3 million, as compared to $36.5 million reported for the prior year period. Systems revenue was $17.1 million versus $20.7 million in the prior year period. The Company recognized revenue on five theatre systems which qualified as either sales or sales-type leases in the fourth quarter of 2007, compared to nine in 2006, and installed two systems under a joint revenue sharing arrangement.
For the fourth quarter of 2007, film revenues were $10.0 million, as compared to $10.9 million in the fourth quarter of 2006. The Company's share of IMAX DMR gross box office increased to $5.2 million in 2007 from $5.1 million in 2006. This is included in Production and IMAX DMR revenues of $5.2 million compared to $6.0 million in 2006. Film distribution revenue was $2.4 million for the quarter, as compared to $3.5 million in the fourth quarter of 2006. Theatre operations revenue was $4.1 million in the fourth quarter of 2007 compared to $4.0 million in the fourth quarter of 2006.