Write-down sinks Imax's fourth quarter

March 15, 2008 A write-down on outdated film projection equipment led giant-screen exhibitor Imax to post widened fourth-quarter and year-end losses Friday. Toronto-based Imax said its losses for the three months ending Dec. 31 grew from $9.2 million in 2006 to $10.1 million as it recorded a $4 million write-down on film-related equipment caused by the transition to digital projection technology. Imax said it wrote down its obsolete inventory because installations slowed in 2007 as exhibitors chose to wait for the company's roll out of new digital projection technology in second-half 2008.

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