Lionsgate Narrows Loss in Q3

SANTA MONICA: Lionsgate Entertainment reported a third-quarter net loss of $1.7 million, compared to the prior year’s Q3 loss of $6 million.

Revenues were down from last year’s $422.9 million to $323 million. EBITDA was $16.3 million for the third quarter, compared to EBITDA of $10.2 million in the year-ago period.

Motion picture revenue was down 29 percent to $233.3 million. Within the segment, theatrical revenue was $8.4 million, compared to the $53.8 million in the prior year. The company didn’t have any wide theatrical releases in the most recent quarter. Home entertainment revenue (motion pictures and television) was $162.9 million in the quarter. Television revenue (included in motion picture revenue) was $22.6 million, down from last year. Television production revenue of $89.7 million decreased 7 percent, as fewer TV episodes were delivered. A bright spot in the financials were digital and on-demand revenue, reaching $62.4 million for the quarter, a 80-percent increase from the prior year.

The financial results do not include figures from the newly acquired Summit Entertainment. The first financials of the combined entity will be reported in the company’s fiscal year and fourth-quarter results.

"We had no wide theatrical releases in the quarter, but we received solid contributions from our other operating divisions and another strong performance by EPIX," said Lionsgate’s CEO, Jon Feltheimer. "We’re very excited about the opportunities created by our recent acquisition of Summit Entertainment. The February 11 home entertainment release of Twilight Saga Breaking Dawn 1, the March 23 theatrical release of Hunger Games and the November 16 theatrical release of Twilight Saga Breaking Dawn 2 lead a strong combined slate that we believe will enable us to deliver increased consistency, profitability and value to our shareholders."