Lions Gate Entertainment Corporation (LGF) recently reported third-quarter 2010 results. Total revenue for the quarter climbed 15% year-on-year to $371.8 million driven by robust performance of its television production segment and revenue contribution of $29.3 million from TV Guide Network and TVGuide.com.
Higher revenue aided by lower theatrical marketing and overhead costs helped Lions Gate, the independent TV and film studio, to post a smaller loss in the quarter. The company reported a net loss per share of 55 cents versus a loss of 84 cents delivered in the prior-year quarter but missed the Zacks Consensus Estimate of a net loss of 22 cents.
Lions Gate delivered an adjusted EBITDA loss of $9.8 million compared to an EBITDA loss of $90.9 million reported in the year-ago quarter.
By segment, Motion Pictures revenue for the quarter fell 2% to $251 million, reflecting revenue declines across Theatrical (down 29% to $49.4 million) and International (down 9% to $37.5 million) segments, offset by gains in Television (up 40% to $54.7 million) and Mandate Pictures (up 55% to $12.9 million). Home Entertainment revenue remained relatively flat at $95 million (up 0.4%).
Television Production revenue jumped 32% to $91.5 million driven by a 23% increase in domestic series licensing revenue.
Lions Gate ended the quarter with cash and cash equivalents of $105.1 million with film and production obligations of $397.1 million and shareholders’ equity of $104.4 million. The company generated positive free cash flow of $64.5 million in the quarter compared to a negative free cash flow of $104.9 in the year-ago quarter.
Lions Gate is a film studio, which produces and distributes motion pictures for theater and straight-to-video release, and television programming for the cable and broadcast networks. The current Zacks Consensus Estimate for fourth-quarter 2010 is a net loss of 32 cents a share, which had remained stagnant in the last 30 days, despite 3 out of 13 analysts covering the stock having lowered their loss estimates, and one analyst having raised the net loss expectation. However, the changes neutralize the impact on the Zacks Consensus Estimate.
Higher revenue aided by lower theatrical marketing and overhead costs helped Lions Gate, the independent TV and film studio, to post a smaller loss in the quarter. The company reported a net loss per share of 55 cents versus a loss of 84 cents delivered in the prior-year quarter but missed the Zacks Consensus Estimate of a net loss of 22 cents.
Lions Gate delivered an adjusted EBITDA loss of $9.8 million compared to an EBITDA loss of $90.9 million reported in the year-ago quarter.
By segment, Motion Pictures revenue for the quarter fell 2% to $251 million, reflecting revenue declines across Theatrical (down 29% to $49.4 million) and International (down 9% to $37.5 million) segments, offset by gains in Television (up 40% to $54.7 million) and Mandate Pictures (up 55% to $12.9 million). Home Entertainment revenue remained relatively flat at $95 million (up 0.4%).
Television Production revenue jumped 32% to $91.5 million driven by a 23% increase in domestic series licensing revenue.
Lions Gate ended the quarter with cash and cash equivalents of $105.1 million with film and production obligations of $397.1 million and shareholders’ equity of $104.4 million. The company generated positive free cash flow of $64.5 million in the quarter compared to a negative free cash flow of $104.9 in the year-ago quarter.
Lions Gate is a film studio, which produces and distributes motion pictures for theater and straight-to-video release, and television programming for the cable and broadcast networks. The current Zacks Consensus Estimate for fourth-quarter 2010 is a net loss of 32 cents a share, which had remained stagnant in the last 30 days, despite 3 out of 13 analysts covering the stock having lowered their loss estimates, and one analyst having raised the net loss expectation. However, the changes neutralize the impact on the Zacks Consensus Estimate.
Posts
0 comments:
Post a Comment