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moncler jackets outlet Sign in / Join NowGood day, and welcome to the IMAX Fourth Quarter beautylyrics.com and Full Year 2017 Earnings Conference Call. All participants are currently in a listen only mode. Following the presentation, we will conduct a question and answer session. As a reminder, today’s moncler outlet online conference is being recorded.At this time, I’d like to turn the conference over to Michael Mougias. Please go ahead.Thank you, Rene. Good afternoon, and thank you for joining us on today’s fourth quarter and full year 2017 earnings conference call.Joining me today is our CEO, Rich Gelfond; our CFO, Patrick McClymont; and our Head of Entertainment, Greg Foster, who each have prepared remarks and will be available for Q Also joining us is Rob Lister, Chief moncler uk outlet Legal cheap moncler jackets mens Officer.Today’s conference call is being webcast in its entirety on our website. A replay of the webcast will be made available shortly after the call. In addition, the full text of our fourth quarter release and the slide presentation accompanying today’s call have been posted on moncler outlet prices the Investor Relations section of our website. At the conclusion of this call, our historical excel model and guidance information will be posted on the website as well.I would like to remind you of the following information regarding forward looking statements. Our comments and answers to your questions on this moncler sale outlet call, as well as the accompanying slide deck may include statements that are forward looking and that they pertain to future results or outcomes. Actual future results or occurrences may differ materially uk moncler sale from these forward discount moncler jackets looking statements. Please refer to our SEC filings for a more detailed discussion of some of the factors that could affect our future results and outcomes.During today’s call, references may be made to certain non GAAP financial measures as defined by Regulation G of the Securities and Exchange Commission. Discussion of management’s use of these measures and the definition of these measures, as well as reconciliations to adjusted net income, adjusted EPS and adjusted EBITDA as defined by our credit facility are contained in cheap moncler coats mens this afternoon’s press release.With that, let me now turn the call over to Rich Gelfond.Richard L. Gelfond IMAX Corp.Thanks, Mike. During the second half last year, we made efforts to refine our global programming strategy, reduced our cost structure and reanalyzed our new business efforts. Our primary objective was to facilitate more operating leverage throughout our business. I’m pleased to say that several refinements across various areas of the company have had encouraging early results as demonstrated by our stronger box office performance in the second half of 2017 and into 2018.More specifically, in the second half of last year following our refinements, IMAX domestic box office grew 17% compared to an exhibitor industry decline of 6%. In China, box office grew roughly 7% and in our international ex China segment, box office was up over 19%. Overall, IMAX fourth quarter global box office was up roughly moncler outlet sale 13% compared to the prior year.And more recently, we broke company records with the release of Black Panther, which achieved $34 million of the IMAX box office in its four day opening weekend and cheap moncler sale another $15 million last https://www.beautylyrics.com weekend. The film has grossed more than $50 million in IMAX screens worldwide and that doesn’t include key markets such as China and Japan, best moncler jackets which we’ll open the film shortly.In China, during the recent Chinese New Year holiday, we grew box office 60% over the four day opening weekend compared to the prior year, and even more encouraging over the seven day cheap moncler jackets womens holiday period, our box office grew to $27 million, up 74%.Interestingly, the performance of the three films vary day to day. Monster Hunt 2 started out the strongest. However, Operation Red Sea quickly gained ground, while Detective Chinatown (sic) [Detective Chinatown 2] (00:04:01) held steady throughout the holiday. The varying performance of these films over the course of Chinese New Year, highlights the significance of our multi film strategy uk moncler outlet in China.Had we played just one film, we do not believe our performance would have been nearly as strong. It is also worth mentioning that the past two moncler online store weekends, moncler usa our network has exhibited all of the top four global films in the world. Overall, our box moncler sale office results over the past eight months underpin our continued value proposition for blockbuster movies and highlight that overall industry box office performance is not always indicative of our performance.The blockbuster IMAX business can be quite different than the conventional cinema business. In addition to compelling content, a key component of our recent performance, our results also reflected tangible benefits from several of our recently announced revenue and cost initiatives.You may recall that one of our initiatives was to program more 2D versions of films across our domestic network rather than 3D. To cheap moncler jackets that end, moncler outlet woodbury Blade Runner 2049 and Justice League were programmed exclusively in IMAX 2D last quarter, and more than half of Thor: Ragnarok and Star Wars: The Last Jedi were programmed in 2D.Recently, Black Panther had about 80% of its domestic showings in 2D. While we only recently implemented this strategy, the preliminary result moncler sale online of this decision have been encouraging. And our intention is to continue to play more 2D versions of films across our domestic slate.Additionally, we’ve been focusing on increasing our programming flexibility, particularly in China. As outlined on our last earnings call, we are re mastering an increasing number of Chinese titles, specifically during bigger box office weekends or weekends where there is no single dominant film, such as during Chinese New Year.For example, we played four local language titles across our network during the blackout period in December. And as previously mentioned, we exhibited three local language titles during Chinese moncler outlet New Year.We believe providing our exhibitor partners with optionality will increase the revenue power of our network and enable us to be more nimble, reducing the chances of missing potential hits.In addition to our revenue initiatives, we have continued to streamline our cost structure. We believe that this effort has already has had a positive effect on our ability to drive operating leverage.OpEx for the fourth moncler womens jackets quarter, which includes SG and R excluding stock comp, was down slightly year over year. For the full year 2017, OpEx was flat compared to 2016. And as we look to 2018, we intend to continue with our disciplined approach to cost management. For instance, we anticipate this year’s consolidated OpEx to be essentially flat with that of 2017 and 2016.Turning to our network growth, we signed deals for 23 new theaters in the fourth moncler outlet store quarter, bringing total new theater signings for the year to 170. Keep in mind, this is on top of the record 314 new signings that we achieved in 2016. These signings not only facilitate future network growth and earnings, they also serve as a testament to our exhibitor partners’ continued demand for IMAX.As a result, our backlog consisted of 494 new systems at year end. Of this backlog, roughly 63% is in China and roughly 28% in other international markets moncler jackets outlet.