Let’s see. Gary Moss joined YOO a little more than a year ago as interim CEO.
Gary was Chief Operating Officer at IMAX during 2009, 2010 and 2011. In 2008 the year before, using US$ numbers, IMAX revenue was $103 million, gross margin $38 million, 351 theatres. IMAX 2009 revenue was $171 million, gross margin $82 million with 430 theatres. IMAX 2010 revenue was $249 million, gross margin $138 million with 518 theatres (Avatar released Dec 18th 2009 helped tremendously with 2010 results). Understandably, IMAX 2011 revenue flattened out and backed off a bit, but not that much. Revenue $237 million, gross margin $113 million with 634 theatres.
Now Gary stepped into YOO when it was a mess. He was already a director and YOO was in a desperate situation. I expected him to stay 2 or 3 months max till a new guy was found. So why is he still here? When Gary joined IMAX the stock was $7. During his tenure it hit $38. You think a guy who ran IMAX worldwide operations, revenue from just over $100 mil to $1/4 billion, stock from $7 to high of $38, is going to stay on as CEO of YOO unless the potential is exciting and the possibility of realizing that potential is good?
So what’s is the market cap going to be in 6 months? I don’t know. But I’m quite sure of one thing. After running a $250 million/year company, you’re thinking you can take YOO to tens of millions in annual revenue or you’re doing something else. Will he be successful? Again, I don’t know. But for me, this micro cap is finally starting to look as pretty as they get.