IMAX reports loss and new deals

IMAX is getting ready to storm the theaters this year, but hasn't done so yet. The company reported a $10.3 million loss for the first quarter this year. IMAX said the results "reflect the transitional nature of 2008 from a financial perspective as we continue implementing our key joint venture revenue sharing and digital initiatives." Cryptically saying 'we had a big loss now, to hopefully make some money in the future.'

They also blamed poor numbers for 'The Spiderwick Chronicles' and Rolling Stones' 'Shine A Light.' The IMAX versions respectively did $6.8 and $3.9 million to date. It already had the box office results for the new 'Speed Racer' too, which made $1.9 million at 84 IMAX screens since last week.

Lastly, the big screen company announced a deal with DreamWorks to deploy 'Madagascar: Escape 2 Africa' worldwide in theaters November 7. It's good to see IMAX making some promising deals with other studios. The company has a strong connection with Warner, but I think they'd rather have had 'Iron Man' than 'Speed Racer' last weekend.