The financial results from the period that ended in September may already look like ancient history to investors who are salivating over potentially blow-out sales later this month for The Hunger Games: Catching Fire. And the latest numbers have plenty of quirks as Lionsgate paid a $36.2M charge for early extinguishment of debt, and compare to last year when the company had strong home video sales for The Hunger Games. The result: Net income for the latest period came in at $505,000, way down from last year’s $75.5M, on revenues of $498.7M, -29.5%. Analysts expected a lot more from the top line, about $528.9M in the consensus forecast. But earnings at zero topped predictions for an eight cent loss. Motion Picture revenue fell 29% to $434.4M as the slate led by Red 2 and You’re Next couldn’t match last year’s with The Expendables 2, The Possession, and Step Up Revolution. Home entertainment revenue from movies and TV fell 24.4% to $209.9M. (This year includes Duck Dynasty: Season 3 which Lionsgate says is “currently the biggest-selling TV show on DVD.”) And revenue for the Television Production unit fell 35.1% to $64.3M despite this year’s international sales of Orange Is The New Black and Anger Management. CEO Jon Feltheimer says that the company is “on track for another very good year” and with the new Hunger Games release and TV projects “we are positioned to deliver growth for many years to come.” Lionsgate owns 31.2% of EPIX and reports, in an SEC filing, that the premium service generated nearly $22M of net income in the quarter, +64.3% vs last year, on revenues of $87.0M, +5.1%.
Lionsgate Beats Fiscal Q2 Earnings Estimates But Misses On Revenues
What's Hot on Deadline
Latest Business News
- Disney And Altice Trade Jabs As Carriage Contract Deadline Looms
- Nielsen Suing ComScore Over “Extended TV” Offering
- Hollywood Reporter Sued For $5M Over “False” Sony Hack Coverage
- Big Lit News: Howie Sanders, Kassie Evashevski Exit UTA For Anonymous Content
- Donald Trump Blasts Facebook CEO Mark Zuckerberg For Fueling "The Russia Hoax"
- Nina Dobrev Joins Ken Marino’s ‘Dog Days’ Pic, Filming Roger Avary’s ‘Lucky Day’