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Lions Gate Posts Q2 Loss, Shares Fall


Shares of Lions Gate Entertainment Corp. (USA) (NYSE: LGF) fell more than 6 percent in after-hours trading after the company reported weaker-than-expected results for its second quarter on Monday.

The Santa Monica, California-based company posted a quarterly loss of $42.1 million, or $0.28 per share, versus a year-ago profit of $20.8 million, or $0.15 per share. Excluding items, the company lost $0.19 per share.

Its revenue slipped 14 percent to $476.8 million. However, analysts were expecting earnings of $0.03 per share on revenue of $491 million.

Motion Picture segment revenue slipped to $354.0 million for the quarter, versus $398.0 million in the year-ago quarter. Theatrical revenue dropped to $26.3 million in the quarter, while Television production segment revenue shrank to $122.8 million from $154.9 million.

Its adjusted EBITDA shrank to negative $8.1 million for the latest quarter, versus adjusted EBITDA of $59.0 million in the year-ago quarter.

"Although this quarter will be the lightest of the year due to timing and softer-than-anticipated performance of some of our recent film releases, our robust film and television pipelines position us for a very strong second half of the year," said Lionsgate Chief Executive Officer Jon Feltheimer.

During the quarter, Lions Gate raised its quarterly cash dividend by 29 percent to $0.09 per share.

Lions Gate shares dipped 6.61 percent to $35.75 in the after-hours trading session.

Posted-In: lossEarnings News


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