Lionsgate 3Q loss narrows as revenue rises 15 percentBy AP
Tuesday, February 9, 2010
Lionsgate 3Q loss narrows as revenue rises 15 pct
SANTA MONICA, Calif. — Lionsgate Entertainment Corp. on Tuesday reported a smaller loss for the third-quarter from a year ago, as revenue rose 15 percent on gains in television revenue, which included deliveries of episodes of “Mad Men.”
The movie studio and TV production company lost $65.3 million, or 55 cents per share, compared with a loss of $97.8 million, or 84 cents per share, in the same period a year earlier. Revenue rose to $371.8 million from $324 million.
Lionsgate’s revenue exceeded the $355 million expected by analysts but fell short of the 23-cents per share loss they forecast on average, according to Thomson Reuters.
Revenue from its movies fell 29 percent to $49.4 million, as the third quarter’s slate of films — “Precious,” ”Brothers” and “Saw VI” — compared with five releases in the prior year’s quarter, four of them widely released.
But TV production revenue, including episodes of “Mad Men Season 3″ and “Crash Season 2,” rose by 32 percent to $91.5 million. Other TV revenue was up 40 percent to $54.7 million.
Home entertainment revenue was flat from the year before, at $95 million.
The TV Guide Network cable channel and TVGuide.com contributed $29.3 million to revenue.
Shares of Lionsgate, based in Santa Monica, Calif., rose 14 percent to $5.19 Tuesday.
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