LOS ANGELES, Feb 22, 2010 (GlobeNewswire via COMTEX) -- IMAX Corporation (Nasdaq:IMAX) (TSX:IMX) and Twentieth Century Fox today announced that James Cameron's Avatar, recipient of Golden Globe(R) awards for Best Picture and Best Director as well as nine Academy Award(R) nominations, has crossed the $200 million mark at IMAX(R) theatres worldwide during the weekend from Friday, February 19, 2010 through Sunday, February 21. During its 10th weekend, the film grossed $4.3 million from 179 IMAX theatres domestically, representing approximately 27% of the film's total domestic three-day weekend gross of $16.2 million. Internationally, the IMAX release grossed $3.9 million from 84 IMAX theatres, bringing the weekend's global IMAX total to approximately $8.2 million and the film's overall IMAX global total to more than $200 million.

"This incredible milestone not only reflects the mass appeal of watching Avatar in IMAX, it also reflects the significant expansion of our global audience base," said IMAX CEO Richard L. Gelfond. "Avatar was a perfect fit for IMAX and the type of event title IMAX fans and exhibitors embrace. We look forward to growing our audience even more as we continue to expand the IMAX network and offer moviegoers more of Hollywood's biggest films."

The IMAX release has delivered particularly strong performances across the international IMAX theatre network. In the Asia-Pacific market, the IMAX network has generated approximately $43 million from 38 screens, with 20 IMAX screens in China, Hong Kong, Taiwan, South Korea, Japan and Australia, each surpassing the $1 million mark.

In the Europe, Middle East and Africa region, the IMAX release generated more than $32 million from 35 screens, many of which surpassed the $1 million mark. Some IMAX locations have more than doubled that milestone, including Moscow's Nescafe IMAX Theatre, which has reported approximately $3 million in gross box office receipts from its single IMAX screen, and the BFI IMAX in London, which reported more than $2.3 from its single IMAX screen.

"The combination of James Cameron's revolutionary film and the enhanced image and sound of The IMAX Experience(R) has clearly resonated with Avatar fans around the world," said Greg Foster, Chairman and President, IMAX Filmed Entertainment. "We reached this milestone thanks to the strong word of mouth about the experience of watching Avatar in IMAX, and the hard work of all of those at Lightstorm, Twentieth Century Fox, IMAX and our global exhibition partners."

"Many exhibitors in domestic and international markets have pushed the boundaries of their operations to accommodate the high demand to experience this amazing movie in IMAX," added Phil Groves, IMAX's Senior Vice President, Film Distribution. "Many locations are still seeing strong business from extended show time schedules."

Avatar is directed and written by Academy Award Winner James Cameron and stars Sam Worthington, Zoe Saldana, Stephen Lang, Michelle Rodriguez and Sigourney Weaver. Avatar has been digitally re-mastered into the unparalleled image and sound quality of The IMAX Experience(R).

Avatar is the story of an ex-Marine who finds himself thrust into hostilities on an alien planet filled with exotic life forms. As an Avatar, a human mind in an alien body, he finds himself torn between two worlds, in a desperate fight for his own survival and that of the indigenous people. More than ten years in the making, Avatar marks Cameron's return to feature directing since helming 1997's Titanic, the highest grossing film of all time and winner of eleven Oscars(R) including Best Picture. WETA Digital, renowned for its work in The Lord of the Rings Trilogy and King Kong, has incorporated new intuitive CGI technologies to transform the environments and characters into photorealistic 3D imagery that will transport the audience into the alien world rich with imaginative vistas, creatures and characters.

About IMAX Corporation

IMAX Corporation is one of the world's leading entertainment technology companies, specializing in immersive motion picture technologies. The worldwide IMAX network is among the most important and successful theatrical distribution platforms for major event Hollywood films around the globe, with IMAX theatres delivering the world's best cinematic presentations using proprietary IMAX, IMAX 3D, and IMAX DMR(R) technology. IMAX DMR is the Company's groundbreaking digital re-mastering technology that allows it to digitally transform virtually any conventional motion picture into the unparalleled image and sound quality of The IMAX Experience. The IMAX brand is recognized throughout the world for extraordinary and immersive entertainment experiences for consumers. As of September 30, 2009, there were 403 IMAX theatres (280 commercial, 123 institutional) operating in 44 countries.

IMAX(R), IMAX(R) 3D, IMAX DMR(R), Experience It In IMAX(R), An IMAX 3D Experience(R) and The IMAX Experience(R) are trademarks of IMAX Corporation. More information about the Company can be found at www.imax.com. You may also connect with IMAX on Facebook (www.facebook.com/imax), Twitter (www.twitter.com/imax) and YouTube (www.youtube.com/imaxmovies).

The IMAX Corporation logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=6469

This press release contains forward looking statements that are based on management's assumptions and existing information and involve certain risks and uncertainties which could cause actual results to differ materially from future results expressed or implied by such forward looking statements. Important factors that could affect these statements include ongoing discussions with the SEC and OSC relating to their ongoing inquiries and the Company's accounting, the performance of films, the signing of theatre system agreements, the viability of new technologies, businesses and products, the timing of theatre system deliveries, the mix of theatre systems shipped, the timing of the recognition of revenues and expenses on film production and distribution agreements, risks arising from potential material weaknesses in internal control over financial reporting and fluctuations in foreign currency and in the large format, general commercial exhibition and out-of-home entertainment markets. These factors and other risks and uncertainties are discussed in the Company's most recent Annual Report on Form 10-K and most recent Quarterly Reports on Form 10-Q.

This news release was distributed by GlobeNewswire, www.globenewswire.com

SOURCE: IMAX Corporation

CONTACT: IMAX Corporation, New York
Media:
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212-821-0121
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Jason Magner
310-854-8128
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Sloane & Company, New York
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