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Lions Gate Swings to Profit in Q1 (LGF)

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Lions Gate Entertainment Corporation (NYSE: LGF) reported better than expected fiscal first-quarter profit on Thursday as the studio’s “Twilight” and some of the other TV shows continued to catch eyeballs. The Studio also swung into fiscal first quarter profit.

Lion Gate said revenue from television production jumped more than 100% to $131.1 million, aided by success of shows like “Orange Is The New Black”, “Nashville” and “Anger Management”.

For the fiscal first quarter ended June 30, Lions Gate posted a net income of $13.6 million or 10 cents a share compared to a net loss of $44.2 million or 33 cents a share, in the year-earlier quarter. The latest quarter included a onetime expenses of $466,000 linked to debt extinguishment. In the year-earlier period the company took a charge of $8.2 million linked to debt extinguishment.

Stripping out onetime items, the company earned 18 cents a share (adjusted earnings) compared to a loss of 20 cents a share, in the same period of last year.

Revenue soared 21% to $569.7 million.

Analysts’ consensus estimate was for earnings of 8 cents a share on revenue of $523 million.

Interest expenses fell to $20.8 million from $27.5 million, while other expenses including operating and marketing costs jumped 12% to $536.3 million.

Revenue, jumped 16% to $169.4 million in the home-entertainment segment, aided by continued good showing of “Twilight” movie, “Texas Chainsaw 3D” and “The Impossible”.

Revenue in the digital media segment climbed 21% to $63.2 million.

Shares climbed 3.63% to $35.47 in aftermarket hours.








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Post Written By: Ed Liston

Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.

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Ed Liston

Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing.

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