Lions Gate posts bigger quarterly loss
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The Who’s Roger Daltrey attended Universal and VH1’s Amazing Journey: The Story of the Who premiere event at the Paley Center for Media’s DocFest in New York on Oct. 30.
Disney hosted its Magical Blu-ray Tour Oct. 26-28 at Roosevelt Field in Garden City, N.Y. Sponsored by Panasonic, the tour gave consumers information about the high-definition format.
To celebrate the Oct. 30 DVD release of Spider-Man 3, Sony executives participated in several promotional activities in New York’s Times Square on Oct. 29, including the NASDAQ closing bell ceremony.
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But revenue climbs 3% amid higher DVD sales
By Jennifer Netherby -- Video Business, 8/9/2005
AUG. 9 | Despite increased revenue from DVD sales, Lions Gate Entertainment on Tuesday reported a fiscal first-quarter loss almost doubled from red ink a year earlier.
The company reported a $21.8 million loss for the quarter ended June 30. That compared with red ink of $11.5 million for the same period of the previous fiscal year.
Revenue climbed 3% in the latest quarter, to $194.2 million.
Top DVD sellers in the quarter included Tyler Perry’s Diary of a Mad Black Woman and several video plays from Perry, as well as Alone in the Dark and Beyond the Sea. The theatrical release of Crash also drove revenue.
The studio also reported continued strong sales on Saw, The Final Cut and Open Water.
Lions Gate’s theatrical income decreased 8% to $147 million, with officials blaming a weaker release slate compared to the previous year, when the studio had The Punisher and Fahrenheit 9/11.
“Our financial results continued to reflect our core business ability to generate strong positive free cash flow and revenue,” Lions Gate CEO Jon Feltheimer said in a statement.
A conference call with press and analysts is set for Wednesday for execs to discuss the financial results.
“Our fiscal year is again heavily back-loaded,” Feltheimer said. “And we again anticipate stronger [operating cash flow] and net income performance throughout the rest of the year, as recent product moves through higher-margin windows and as we release our direct-to-video films and our family entertainment product.”
Lions Gate released its results after the close of market trading. Shares closed down 4¢ at $10.05 on the day.
E-mail Jennifer Netherby
