Film, international ops boost mixed quarter
“Saw IV” and “Tyler Perry’s Why Did I Get Married?” drove revenue but higher marketing costs marred Lionsgate’s mixed fiscal third quarter.
Revenue gained 14% over the year-ago quarter, while net income plunged 90%.
Revenue hit $290.9 million, the highest ever for the holiday quarter, which is third on its fiscal calendar.
However net income plunged to $2 million due to significantly higher expenses.
Film revenue rose 15% to $254.1 million, thanks to healthy b.o. for “Saw IV” and “Tyler Perry’s Why Did I Get Married?”
Home entertainment revenue actually declined 7% to $105.1 million, with best selling titles including “Bratz,” “Skinwalkers” and “Captivity.”
International operations were the biggest growth area for Lionsgate, as revenue nearly doubled to $53.8 million.
TV production revenue was up slightly at $36.8 million.
Lionsgate will be discussing guidance, as well as details on its earnings, during a conference call with analysts Tuesday.
Its stock was down slightly at $9.51 Monday before earnings were announced.