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                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549


                                    FORM 8-K


                                 CURRENT REPORT
     PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934


                                   MAY 5, 2005
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                Date of report (Date of earliest event reported)


                                IMAX CORPORATION
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             (Exact Name of Registrant as Specified in Its Charter)


           CANADA                       0-24216                98-0140269
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      (State or Other               (Commission File         (I.R.S. Employer 
Jurisdiction of Incorporation)           Number)          Identification Number)


           2525 SPEAKMAN DRIVE, MISSISSAUGA, ONTARIO, CANADA, L5K 1B1
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           (Address of Principal Executive Offices)     (Postal Code)


                                 (905) 403-6500
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              (Registrant's Telephone Number, Including Area Code)


                                       N/A
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          (Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions (see General Instruction A.2. below):

[ ]  Written communication pursuant to Rule 425 under the Securities Act (17 CFR
     230.425)

[ ]  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
     240.14a-12)

[ ]  Pre-commencement communication pursuant to Rule 14d-2(b) under the Exchange
     Act (17 CFR 240.14d-2(b))

[ ]  Pre-commencement communication pursuant to Rule 13e-4(c) under the Exchange
     Act (17 CFR 240.13e-4(c))

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ITEM 2.02     RESULTS OF OPERATIONS AND FINANCIAL CONDITION

      On May 5, 2005, IMAX Corporation (the "Company") issued a press release
announcing the Company's financial and operating results for the quarter ended
March 31, 2005, a copy of which is attached as Exhibit 99.1.

      The information in this current report on Form 8-K, including the Exhibit
attached hereto, shall not be deemed "filed" for purposes of Section 18 of the
Securities Exchange Act of 1934 or otherwise subject to the liabilities of that
section, nor shall it be deemed incorporated by reference in any filing under
the Securities Act of 1933, except as shall be expressly set forth by specific
reference in such filing.

ITEM 9.01     FINANCIAL STATEMENTS AND EXHIBITS

(c)   EXHIBITS

EXHIBIT NO.     DESCRIPTION
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99.1            Press Release dated May 5, 2005



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                                   SIGNATURES

      Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.

                                       IMAX CORPORATION
                                       (Registrant)


Date: May 5, 2005                      By:         "Richard L. Gelfond"
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                                       Name:        Richard L. Gelfond
                                       Title:       Co-Chairman and
                                                    Co-Chief Executive Officer


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