Lions Gate Entertainment Reports Year-to-Year Revenue Increase for Q214 Nov, 2003 By: Erik Gruenwedel
Despite a 28 percent year-to-year increase in second-quarter revenue (ended Sept. 30) to $99.8 million, Lions Gate Entertainment posted an $800,000 net loss, or 2 cents per share, compared with net income of $1.2 million, or 1 cent per share, for the same period last year.
Earnings before interest, income taxes, amortization and minority interests (EBITDA) decreased 63 percent, to $2.3 million, from $6.2 million last year.
Lions Gate, which last month announced it was purchasing Artisan Entertainment for $160 million, credited the rise in revenue to DVD releases of House of 1,000 Corpses, Confidence and the NBC comedy series “Will & Grace,” among other properties.
The company also announced that the successful second-quarter theatrical horror film release Cabin Fever would be released on DVD in the fourth quarter of fiscal 2004.