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.
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