Lionsgate Ups Managed Brands Home Entertainment Revenue 20%29 May, 2014 By: Erik Gruenwedel
Sales of fitness titles, children’s programming and direct-to-DVD fare increased 20% in Lionsgate’s fiscal year, ended March 31. Home entertainment revenue for the fiscal year from both motion pictures and television declined 11% to $863.9 million, from $964.1 million, due primarily to fewer releases.
For the fourth quarter, net income topped $49 million on revenue of $721.8 million, compared with income of $162.9 million on revenue of $785.7 million last year.
For the fiscal year, Santa Monica, Calif.-based Lionsgate recorded all-time highs in pre-tax earnings, driven by record margins, the global box office performance of The Hunger Games: Catching Fire and Now You See Me, as well as strong results from library titles and lower theatrical marketing costs.
Revenue of $2.63 billion for the fiscal year compared with $2.71 billion in the prior year, reflected a domestic theatrical slate of 13 releases compared with 19 in the prior year, partially offset by revenue gains in the Lionsgate’s television production and international businesses
“Our strong operating momentum, the diversity of our portfolio of businesses and the continued enhancement of our capital structure all contributed to another year of outstanding financial results,” CEO Jon Feltheimer said in a statement. “The trajectory of our business, the depth of our content pipelines and the ongoing generation of predictable income from our film franchises, television properties and filmed entertainment library continue to give us excellent long-term visibility.”