IMAX's decision to move from film to digital projection systems in its giant-screen theaters is hitting its bottom line hard. In its SEC filing on Monday, the Canadian-based company reported a net loss of $10.3 million during its first quarter, versus a loss of $4.7 million during the same period a year earlier. Nevertheless, co-CEO Richard Gelfond said that the company is on track to open 20 new digital theaters in the third quarter and another 30 by the end of the year. He also indicated that the company has a strong slate of movies that have been converted to the IMAX format and are set to debut this year, including Madagascar: Escape 2 Africa, Kung Fu Panda, The Dark Knight, and the latest Harry Potter sequel.See Also
