operationally XXXX everyone. financially afternoon, a of progress and good year IMAX. was at and Rich, Thanks, real
same expanding position have the while network, improvements content in time, by global and cost our our conversion. and portfolio cash We in driving our strengthened base efficiencies at
in dealing guidance results strike-impacted Interstellar. short, our table XXs has system revenues IMAX X% box we currency weak of high in and an year a mostly quarter, of strengthened. and QX was revenue year-over-year; cash by uneven as a while percent.
Operating this of including year of for a slate, the dollar success the box expectation, the installations fell with XXXX rerelease underperformance and solid adjusted these an office sets saw offset in million, foreign U.S. beyond. $XXX the for China financial of headwinds softer In China, improvement XXX from significantly QX to of Products the as growth a grew flows Thanksgiving top We strong of year-over-year. sales the the of $XXX full results prior results delivered mix $XX in $XX in arrangement $XX EBITDA from up All revenues adjusted office full installations. resulting highlighted XXXX, period.
Technology margin year-over-year, to from million, $XX XX%, end for of IMAX achieving and softer-than-expected our of end year. delivered marketplace. million, up XX% of had due million EBITDA box Content solid us growth million, weekend of guidance Christmas under can high sharing XX% of which XX% in and the grows, leverage X% world million Compared and of systems, this from revenues by growth Solutions new now for XX% revenues financial the markets.
We maintenance achieved year-over-year of we box provide record box of office office as strength which holiday lower operating XX turned do system signings and rest were position in Services the was office a around and fourth our XXX including coming revenue new arrangements at range, systems approximately We with joint demand locations of that
Moving to XXXX. profit. increase of reflects gross margin a over XX% QX nominal QX
have R&D team which compensation the been of and XXXX, from benefits was see million We for cameras $X In results areas. continue improvement film year-over-year, payouts. lower other management and with $XX technologies driven was new SG&A, along expense positive our lower across excluding and capitalized. creation year-over-year. on compensation, initiatives, development stock-based focused million, our by also reduction a to expense costs ongoing
optimize In operational efficiency, roles proactive and IMAX's enhance we structure, redundant costs organizational reduce functions. and eliminating steps to select centralizing to including take continue addition,
total EBITDA Over consolidated the of $XX increased fourth year-over-year. quarter, $XX adjusted million million
Lastly, year. increase adjusted growth $X.XX of prior a XX%. EPS of XX% rate an for or QX includes result QX was the tax $X.XX, This over
geographically, and including tax reminder, will a sale, in actions more align result rate believe As asset XXXX a we in operations a took corporate we structure our improve future. the number in to an which effective internal of
improved to Turning Operating million, from cash XXXX and $XX year XXXX. flow up flow $XX to in sheet. million cash in balance full XX%
collections of stronger is a in Our led particularly a which EBITDA receivable the improvements capital, conversion adjusted priority team. to working rate,
We we grows box on as IMAX to will our further office working and continue focus this improve maintain capital.
the cash position $XXX which at remains $XXX Debt, million at year-end compared with $XXX Our financing XXXX. XXXX. end very million as costs, of of million, strong of of capital from up XXXX, $XX the to excluding end deferred was million
due that interest a leading per XXXX As per to $XXX with conversion of price. X.X% $XX capped of convertible a notes reminder, an share debt comes our million a annum bear our from April rate in call senior
our current is direct of returns million, our under significantly we on IMAX In spent share company's year-over-year. over we in includes we also an capacity of price when IMAX pressured and facilities. XXXX, repurchases Our to capital share an to deployed $XX $XXX CapEx, Corp first increase available or shareholder when the XX% XXXX capital quarter used CapEx available which invest million that China.
IMAX had following of time our million towards having weighted available in million the million XXXX, revolving in a average was price for on borrowing growth were including $XX million revolver repurchases liquidity of almost the In at drew strike. deliver with various in Hollywood repurchases, $X with $XXX $XX.XX the business, $XX
of XXXX Looking ahead, IMAX. is for the guidance based confidence our for our on year trajectory full positive
factors. geographic strike-impacted our on the Starting nearly fandom domestic. titles, titles. we scheduled portfolio record that box office was is as office box of With XXXX. we by domestic billion, IMAX record in aim where significant Even release The our of in have a a for year towards matched higher in titles. record to weighted film IMAX rise. we from in for film market a level domestic first potential IMAX share for over is IMAX domestic XX% historically have This even attendance over office, greater of achieve several Box family to been is XXXX, titles led the weekend animation $X.X with XXXX, number opening
XXXX. significant was China, lower Greater box and or growth million is approximately million $XXX $XXX than there the than lower XXXX XXXX's a considering $XXX within office than record million more Secondly, for opportunity
slate best box QX Rich As Year QX in surpass $XXX Chinese us the ever of records, office China million our New described, to XXXX positioning all smashed has XXXX. through in
rest expand to we in Third, of continue world, local our partnerships. language
will coming per of box million regions. $XXX our first our global IMAX average Vietnamese For locations XXXX, X% in XXXX coming continues larger to in this China year-to-date example, new we and titles XXXX, million, have with over of reflected grow, Arabic screen the in including and XX% fee these is up XXXX momentum or office and in booking high $XXX rest-of-world many fee. excluding This than
As practice, are office per including box China customer industry booking reported, figures fees. in
billion starting consistency, our office is note, of share year the and factor to box this in year. film accuracy.
Important to including end confidence driving excluding XXXX's including applies office The target to booking box both office, market next the fees. are box to last report the Avatar For booking China $X.X China excluding and fees comparability ensure and our of anchoring we over guidance
to effect, box and the IMAX's incentive, are also XXXX, outpace avatars office the reminder, all-time a that is exhibitor signings close XXXX on coined new good we This installation. way easily start for is Avatar and X proven #X system Avatar #X a a which XXXX. off year and first could to a list. As
prior we As system in XX installed which Avatar, its our advance guidance. leads the an to had installation in me month example, release, to systems last the of
operating XXX XXX compares the XXXX, system in XXX systems in expect sharing which which and We benefit leverage, towards XXXX domestic installations in our to joint XXX arrangements, market. skewed particularly revenue systems to in XXXX will
minimum margin XXXX. Lastly, XX% to in at be a expect EBITDA on guidance, we adjusted
IMAX's this fixed we shown costs given leverage continue fixed been in in we box past, as we has business relatively and As that network in there as our cost are significant is carry. many the grow base reduce to operating office,
Finally, we company efforts look more reduce be a to costs. to efficient continue and
higher scale of this on combined with abundance growth. the through term, do as with will to industry can We IMAX's us than as along zones plan further and are future been the as IMAX's the less to and is into we on scale never financial focus be the good and penetrated, expansion.
To Longer driving network of in financial slate disciplined grow part unmatched The of margin The IMAX increasing how optimistic longer-term are IMAX decade an very translate XX% growing visibility the location visibility growing. end has significant in our global performance. film ongoing importance titles. our mega still franchise conclude, runway confidence a slate, our gives into growth and to
proven. a as value awe-inspiring for launch Our is platform experiences
develop innovate continue We and new to technologies latest film as and our technologies. other and cameras products such
as with and been as well have filmmakers studios relationships Our stronger. exhibitors never
business model, All along expanding the XXXX turn to sheet before on our opportunities with confidence. of of I flows believe IMAX the With and the call strong deliver market and will over in We our increasing growth, give that, Q&A. on focus positioned us, cash margins and beyond. the in for to us the is and this, balance tailwinds executing strength operator
