'Rambo,' 'Eye' score big on home video
Lionsgate posted stellar numbers in the fiscal first quarter as revenue shot up 50% and net profit swung to $7.1 million from a year-ago loss of $53.1 million.
The company attributed the results to double-digit revenue gains in every division plus lower P&A costs.
Total revenue reached $298.5 million, 86% of which came from motion pictures. A lot of coin came from homevid titles such as “Rambo,” “The Eye,” “Witless Protection,” “3:10 to Yuma” and “Bella.”
Theatrical bow “The Forbidden Kingdom” and carryovers from the fourth quarter like “The Bank Job” and “Meet the Browns” also padded the tally.
Television production revenue hit $41.1 million, up 45% from $28.4 million year ago, on new seasons of “Mad Men” and “Weeds,” among others.
Lionsgate stock gained more than 2% Friday to close at $10.48, within a dime of its 52-week high.