starbuxsux
9 years ago
LIONSGATE REPORTS RESULTS FOR THIRD QUARTER 2016
4:00 PM ET 2/4/16 | PR Newswire
Revenue is $670.5 Million; Net Income Attributable to Lionsgate Shareholders is $40.7 Million or EPS of $0.27; Adjusted EBITDA is $53.6 Million
Free Cash Flow Increases to $73.9 Million
Company Pays Quarterly Cash Dividend of $0.09 per Common Share
Lionsgate (NYSE: LGF) today reported revenue of $670.5 million, adjusted EBITDA of $53.6 million, adjusted net income attributable to Lionsgate shareholders of $66.8 million or adjusted EPS of $0.45, and net income attributable to Lionsgate shareholders of $40.7 million or EPS of $0.27 for the fiscal 2016 third quarter ended December 31, 2015. Free cash flow in the quarter rose to $73.9 million.
http://photos.prnewswire.com/prnvar/20130919/LA83194LOGO
"While the performance of our theatrical film slate resulted in softer than anticipated results, our other businesses performed strongly in the quarter," said Lionsgate Chief Executive Officer Jon Feltheimer. "With our television business continuing its robust topline and margin growth, a deeper and more diversified film slate with lower costs and contributions anticipated from recently launched businesses, we have a clear path to resume our strong and sustainable financial trajectory in fiscal 2017."
Adjusted net income attributable to Lionsgate shareholders of $66.8 million or $0.45 adjusted EPS for the quarter compared to adjusted net income attributable to Lionsgate shareholders of $110.0 million or adjusted EPS of $0.79 in the prior year quarter. Adjusted EBITDA of $53.6 million compared to adjusted EBITDA of $146.8 million in the prior year quarter.
Net income attributable to Lionsgate shareholders for the quarter was $40.7 million or EPS of $0.27 on 149.5 million weighted average number of common shares outstanding compared to net income attributable to Lionsgate shareholders of $98.2 million or EPS of $0.70 on 140.0 million weighted average number of common shares outstanding during the prior year quarter.
Free cash flow of $73.9 million in the quarter increased from negative free cash flow of $4.6 million in the prior year quarter.
Revenue of $670.5 million for the quarter compared to revenue of $751.3 million in the prior year quarter.
Revenue, adjusted EBITDA and EPS in the quarter declined from the prior year quarter due to the performance of the theatrical film slate. Although The Hunger Games: Mockingjay 2 grossed over $650 million at the global box office, ranking it among the highest-grossing films of the year, its box office performance declined from Mockingjay 1 with higher Mockingjay 2 production costs also impacting its profitability.
During the quarter, the Company declared a quarterly cash dividend of $0.09 per common share payable on February 5, 2016 to shareholders of record as of December 31, 2015.
Lionsgate's filmed entertainment backlog, or already contracted future revenue not yet recorded, was approximately $1.3 billion at December 31, 2015, increasing from $1.2 billion at September 30, 2015.
Overall Motion Picture segment revenue for the quarter was $505.8 million compared to $590.1 million in the prior year quarter. Although theatrical revenue of $183.1 million was comparable to $186.4 million in the prior year quarter, margins were lower due in part to theatrical P&A expenses associated with four wide film releases in the quarter compared to two wide film releases in the prior year quarter.
Lionsgate's home entertainment revenue from motion picture and television production for the quarter was $142.0 compared to $183.1 million in the prior year quarter, reflecting the composition and timing of the slate of wide release theatrical titles. This offset increased home entertainment revenue from television production in the quarter.
Television revenue included in the Motion Picture segment of $48.6 million in the quarter compared to $82.9 million in the prior year quarter due to timing of titles with television windows opening in the period. The Hunger Games opened in its network television window in the prior year quarter.
International Motion Picture segment revenue of $140.1 million for the quarter compared to $142.1 million in the prior year quarter.
Television production segment revenue of $164.7 million increased from $161.2 million in the prior year quarter. Margins in the Company's television business continued their growth trajectory in the quarter. Domestic television revenues were affected by timing of deliveries in the quarter. Deliveries of the critically-acclaimed hit series Orange is the New Black, Nashville and The Royals are expected to drive strong growth in the fourth quarter along with the first full quarter of results from Pilgrim Studios, in which Lionsgate acquired a majority stake in November 2015.
Lionsgate senior management will hold its analyst and investor conference call to discuss its fiscal 2016 third quarter financial results at 9:00 A.M. ET/6:00 A.M. PT tomorrow, Friday, February 5. Interested parties may participate live in the conference call by calling 1-800-288-8974 (612-332-1213 outside the U.S. and Canada). A full digital replay will be available from Friday morning, February 5, through Friday, February 12, by dialing 1-800-475-6701 (320-365-3844 outside the U.S. and Canada) and using access code 383600.
ABOUT LIONSGATE
Lionsgate is a premier next generation global content leader with a strong and diversified presence in motion picture production and distribution, television programming and syndication, home entertainment, digital distribution, new channel platforms, video games and international distribution and sales. The Company currently has 80 television shows on 40 different networks spanning its primetime production, distribution and syndication businesses, including such critically-acclaimed hits as Orange is the New Black, the broadcast network series Nashville, the syndication success The Wendy Williams Show, the breakout comedy The Royals and the Golden Globe-nominated dramedy Casual.
Its feature film business has been fueled by such successes as the blockbuster Hunger Games franchise, the first two installments of the Divergent franchise, Sicario, John Wick, Now You See Me, CBS Films/Lionsgate's The Duff, Roadside Attractions' Love & Mercy and Mr. Holmes and Pantelion Films' Instructions Not Included, the highest-grossing Spanish-language film ever released in the U.S.
Lionsgate's home entertainment business is an industry leader in box office-to-DVD and box office-to-VOD revenue conversion rate. The Company handles a prestigious and prolific library of approximately 16,000 motion picture and television titles that is an important source of recurring revenue and serves as the foundation for the growth of the Company's core businesses. The Lionsgate and Summit brands remain synonymous with original, daring, quality entertainment in markets around the world.
rickn23
9 years ago
‘Romeo and Juliet: The War’ Movie in the Works at Lionsgate (EXCLUSIVE)
http://variety.com/2015/film/news/romeo-and-juliet-the-war-movie-lionsgate-1201657971/
1821 Media and Stan Lee’s POW! Entertainment are teaming with Lionsgate to develop a movie based on their graphic novel “Romeo and Juliet: The War,” Variety has learned.
The novel is a reimagining of William Shakespeare’s classic “Romeo and Juliet” tale, created by Stan Lee and Terry Dougas of 1821 Media, written by Max Work with illustrations by Skan Srisuwan.
“What a treat it is to finally announce our partnership with Lionsgate on a project,” said Lee. “The story of Romeo and Juliet is one of my absolute favorites, and I can’t wait to bring our rendition of this classic to life.”
Screenwriter John J. Griffin is adapting the screenplay. Griffin previously won a Nicholl Fellowship for his screenplay “Dream Before Waking.”
Paris Kasidokostas-Latsis and Terry Dougas of 1821 Media will produce. Lee and Gill Champion of POW! will executive produce and Erik Feig and James Myers will oversee the project for Lionsgate.
The book was a New York Times bestseller following its publication in 2012. It was also published in a limited giant edition that set the Guinness World Record for the largest graphic novel.
Kasidokostas-Latsis recently set up the Hercules Film Fund, to bring European investors to Hollywood, and Dougas formed Rhea Films as the producing vehicle for films financed by Hercules. The duo and partner Jean-Luc de Fanti are executive producers on Universal’s Tom Cruise actioner “Mena,” directed by Doug Liman.
“Given their success with franchises such as ‘The Hunger Games’ and ‘Divergent’ series, Lionsgate is the perfect partner to adapt this graphic novel which is rich in visuals and set in an incredible, futuristic world,” Kasidokostas-Latsis and Dougas said.
1821 Media’s recent credits include Gavin O’Connor’s “Jane Got a Gun,” starring Natalie Portman, and Paul Weitz’s “Grandma,” starring Lily Tomlin for Sony Classics.
Griffin is represented by WME and managed by Kevin Donahue.
starbuxsux
9 years ago
LIONSGATE EXTENDS CONTRACTS OF TWO KEY EXECUTIVES, CO-CHIEF OPERATING OFFICER BRIAN GOLDSMITH AND CHIEF STRATEGIC OFFICER AND GENERAL COUNSEL WAYNE LEVIN
Nov 19, 2015 16:00:00 (ET)
Renewed Agreements Demonstrate Continuity of Company's Executive Team
SANTA MONICA, Calif. and VANCOUVER, British Columbia, Nov. 19, 2015 /PRNewswire/ -- Reflecting the continuity of its executive team, Lionsgate (NYSE:LGF), a premier next generation global content leader, has extended the employment agreements of two of its corporate officers, Brian Goldsmith, Co-Chief Operating Officer, and Wayne Levin, Chief Strategic Officer and General Counsel, it was announced today by Lionsgate Chief Executive Officer Jon Feltheimer, to whom they both report. The renewed agreements demonstrate the depth, experience and continuity of the Company's executive team, most of who have been with Lionsgate and its predecessor companies for over a decade.
"The stability of Lionsgate's management gives us an important advantage in the highly competitive media environment where our team's ability to move quickly and nimbly has benefited us tremendously," said Feltheimer. "As we focus on a balance between organic growth and creating and executing on strategic opportunities, both Wayne and Brian have made exceptional contributions to the direction and operation of our business."
As Chief Strategic Officer and General Counsel, Mr. Levin played an instrumental role in Lionsgate's recently announced partnership with Liberty Global and Discovery Communications as well as its recent investment in unscripted television content leader Pilgrim Studios and its multi-faceted slate financing, film production and television co-production agreement with Hunan TV & Broadcast Intermediary. In his dual operational management and deal making capacities, Mr. Levin has played a leadership role in Lionsgate's evolution into a nearly $6 billion global entertainment company.
He has negotiated and overseen the acquisitions and subsequent integration of such companies as Artisan Entertainment in 2003, Lionsgate U.K. (formerly Redbus Holdings) in 2005, Debmar-Mercury in 2006, Mandate Pictures in 2007, TVGN (formerly TV Guide Network) in 2009 and Summit Entertainment in 2012, as well as Lionsgate's equity investments in Roadside Attractions and Break Media. In addition, Mr. Levin played a key role in structuring Lionsgate's participation in the premium entertainment channel EPIX, launched with partners Viacom and MGM in 2009. Prior to joining the Company when Lionsgate acquired Trimark Holdings in October 2000, Mr. Levin headed up the Business & Legal Affairs department at Trimark Pictures from 1996 through 2000.
As Co-Chief Operating Officer, Mr. Goldsmith is active in negotiating the Company's corporate development activities, including the recent Liberty Global and Discovery deal. In addition, he directs investments in 10 branded channels around the world as well as a broad spectrum of digital initiatives. He was instrumental in the Company's January 2012 acquisition of Summit Entertainment, the August 2011 sale of Canadian distributor Maple Pictures to Alliance Films and the February 2009 acquisition of POP (formerly TVGN, now a 50/50 partnership between Lionsgate and CBS Corporation). He has also worked closely with Lionsgate Vice Chairman Michael Burns on Lionsgate's capital structure and corporate financings.
Mr. Goldsmith has also played a significant role in overseeing Lionsgate's partnerships with Viacom and MGM in the EPIX channel and the Company's launch of Celestial Tiger Entertainment in Asia with partners Saban Capital Group and Astro's Celestial Pictures. He also helped develop Lionsgate's content partnerships in China with The Alibaba Group and Hunan TV & Broadcast Intermediary Ltd. Prior to joining Lionsgate, Mr. Goldsmith served as Chief Operating Officer and Chief Financial Officer of Mandate Pictures and its predecessor company Senator International, joining Lionsgate after its September 2007 acquisition of Mandate. Previously, Goldsmith worked as a financial analyst and strategic planner at Sony Pictures, beginning his career as a financial analyst at Merrill Lynch.
About Lionsgate
Lionsgate is a premier next generation global content leader with a strong and diversified presence in motion picture production and distribution, television programming and syndication, home entertainment, digital distribution, new channel platforms, video games and international distribution and sales. With Pilgrim Studios recently joining the Lionsgate family, the Company has nearly 80 television shows on 40 different networks spanning its primetime production, distribution and syndication businesses. These include the critically-acclaimed hit series Orange is the New Black, the multiple Emmy Award-winning drama Mad Men, the hit broadcast network series Nashville, the syndication success The Wendy Williams Show, the acclaimed drama Manhattan and the breakout series The Royals.
Its feature film business has been fueled by such successes as the blockbuster first three installments of The Hunger Games franchise, the first two installments of the Divergent franchise, Sicario, The Age of Adaline, CBS/Lionsgate's The DUFF, John Wick, Now You See Me, Roadside Attractions' Love & Mercy and Mr. Holmes, Lionsgate/Codeblack Films' Addicted and Pantelion Films' Instructions Not Included, the highest-grossing Spanish-language film ever released in the U.S.
Lionsgate's home entertainment business is an industry leader in box office-to-DVD and box office-to-VOD revenue conversion rates. Lionsgate handles a prestigious and prolific library of approximately 16,000 motion picture and television titles that is an important source of recurring revenue and serves as the foundation for the growth of the Company's core businesses. The Lionsgate and Summit brands remain synonymous with original, daring, quality entertainment in markets around the world. www.lionsgate.com
For further information, please contact:
Peter Wilkes
310-255-3726
pwilkes@lionsgate.com
Joanna Massey
310-255-3602
jmassey@lionsgate.com
Logo - http://photos.prnewswire.com/prnh/20130919/LA83194LOGO
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/lionsgate-extends-contracts-of-two-key-executives-co-chief-operating-officer-brian-goldsmith-and-chief-strategic-officer-and-general-counsel-wayne-levin-300182147.html
SOURCE Lionsgate
/Web site: http://www.lionsgate.com
(END) Dow Jones Newswires
November 19, 2015 16:00 ET (21:00 GMT)
starbuxsux
9 years ago
LIONSGATE REPORTS RESULTS FOR SECOND QUARTER 2016
Revenue is $476.8 Million; Net Loss is $42.1 Million or Net Loss per Share of $0.28;
Adjusted EBITDA is Negative $8.1 Million
Mockingjay - Part 2, Allegiant, Orange is the New Black and Nashville Expected to Drive Film & Television Slates in Second Half of the Year
SANTA MONICA, CA and VANCOUVER, BC, November 9, 2015 - Lionsgate (NYSE: LGF) today reported revenue of $476.8 million, adjusted EBITDA of negative $8.1 million, adjusted net loss of $28.4 million or adjusted net loss per share of $0.19, and net loss of $42.1 million or net loss per share of $0.28 for the fiscal 2016 second quarter ended September 30, 2015.
The Company’s financial results in the quarter were affected by timing of episodic television deliveries and the shift of the wide release of the film Sicario into October. Although the move contributed to the film’s solid box office performance, it resulted in its marketing costs being recorded in the September quarter without significant offsetting revenue benefit. In addition, the wide release American Ultra underperformed during the quarter. The Company also recorded a write-down of $7.2 million on The Last Witch Hunter, a film released after the 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.
Adjusted EBITDA of negative $8.1 million for the quarter compared to adjusted EBITDA of $59.0 million in the prior year quarter. Adjusted net loss of $28.4 million or adjusted net loss per share of $0.19 for the quarter compared to adjusted net income of $33.0 million or adjusted EPS of $0.24 in the prior year quarter.
Net loss for the quarter was $42.1 million or net loss per share of $0.28 on 148.3 million weighted average number of common shares outstanding compared to net income of $20.8 million or EPS of $0.15 on 137.4 million weighted average number of common shares outstanding during the prior year quarter.
Revenue of $476.8 million for the quarter compared to $552.9 million in the prior year quarter.
Lionsgate Increases Quarterly Cash Dividend
During the quarter, the Company increased its quarterly cash dividend by 29% from $0.07 to $0.09 per common share payable on November 10, 2015 to shareholders of record as of September 30, 2015.
Company Reports Combined Cash Balance and Availability of Over $970 Million and Filmed Entertainment Backlog of $1.2 Billion
The Company reported a combined cash balance and availability on its revolving credit facility of over $970 million at September 30, 2015.
Lionsgate’s filmed entertainment backlog, or already contracted future revenue not yet recorded, was approximately $1.2 billion at September 30, 2015.
1
Overall Motion Picture segment revenue for the quarter was $354.0 million compared to $398.0 million in the prior year quarter. Theatrical revenue declined to $26.3 million with only two wide releases in the quarter, American Ultra and Shaun the Sheep.
As noted above, the wide release of the critically-acclaimed revenge thriller Sicario was moved to October 2nd and its performance will be reflected in a third quarter that also includes the release of the eagerly-anticipated fourth installment of the Company’s global blockbuster Hunger Games franchise, The Hunger Games: Mockingjay - Part 2. Mockingjay 2 will roll out in 86 territories around the world on November 20th, the biggest simultaneous global launch in the Company’s history.
Scheduled wide releases in the fourth quarter include the next film in the hit Divergent series, Allegiant, the visual effects-driven Gods of Egypt and the buddy comedy Dirty Grandpa, starring Robert DeNiro and Zack Efron.
Lionsgate’s home entertainment revenue from motion picture and television production for the quarter was $153.5 million compared to $164.4 million in the prior year quarter due to fewer wide release theatrical titles and product mix. The hit film Insurgent performed well on packaged media, VOD and electronic sell-through during the quarter.
Television revenue included in the Motion Picture segment of $59.9 million in the quarter compared to $69.4 million in the prior year quarter.
International Motion Picture segment revenue for the quarter was $107.8 million compared to $112.9 million in the prior year quarter.
Television production segment revenue was $122.8 million in the quarter compared to $154.9 million in the prior year quarter due to timing of episodic deliveries. Deliveries of the critically-acclaimed hit series Orange is the New Black, Nashville and The Royals are expected to drive revenue growth in the second half of the year. The Company continues to deepen its pipeline of original new series including Casual and Freddie Wong/RocketJump for Hulu, Broke for AMC, Guilt for ABC Family and Graves for Epix.
Lionsgate senior management will hold its analyst and investor conference call to discuss its fiscal 2016 second quarter financial results at 9:00 A.M. ET/6:00 A.M. PT on Tuesday, November 10, 2015. Interested parties may participate live in the conference call by calling 1-800-230-1059 (612-234-9959 outside the U.S. and Canada). A full digital replay will be available from Tuesday morning, November 10, through Tuesday, November 17, by dialing 1-800-475-6701 (320-365-3844 outside the U.S. and Canada) and using access code 371505.
ABOUT LIONSGATE
Lionsgate is a premier next generation global content leader with a strong and diversified presence in motion picture production and distribution, television programming and syndication, home entertainment, digital distribution, new channel platforms, video games and international distribution and sales. The Company currently has over 30 television shows on more than 20 networks spanning its primetime production, distribution and syndication businesses, including such critically-acclaimed hits as Orange is the New Black, the multiple Emmy Award-winning drama Mad Men, the broadcast network series Nashville, the syndication success The Wendy Williams Show, the drama series Manhattan and the breakout comedy The Royals.
Its feature film business has been fueled by such successes as the blockbuster first three installments of The Hunger Games franchise, the first two installments of the Divergent franchise, Sicario, The Age of Adaline, John Wick, CBS Films/Lionsgate’s The Duff, Now You See Me, Roadside Attractions’ Love & Mercy and Mr. Holmes and Pantelion Films’ Instructions Not Included, the highest-grossing Spanish-language film ever released in the U.S.
Lionsgate's home entertainment business is an industry leader in box office-to-DVD and box office-to-VOD revenue conversion rate. The Company handles a prestigious and prolific library of approximately 16,000 motion
2
picture and television titles that is an important source of recurring revenue and serves as the foundation for the growth of the Company's core businesses. The Lionsgate and Summit brands remain synonymous with original, daring, quality entertainment in markets around the world.
***
For further information, please contact:
Peter D. Wilkes
310-255-3726
pwilkes@lionsgate.com
The matters discussed in this press release include forward-looking statements, including those regarding the performance of future fiscal years. Such statements are subject to a number of risks and uncertainties. Actual results in the future could differ materially and adversely from those described in the forward-looking statements as a result of various important factors, including the substantial investment of capital required to produce and market films and television series, increased costs for producing and marketing feature films and television series, budget overruns, limitations imposed by our credit facility and notes, unpredictability of the commercial success of our motion pictures and television programming, the cost of defending our intellectual property, difficulties in integrating acquired businesses, risks related to our acquisition strategy and integration of acquired businesses, the effects of disposition of businesses or assets, technological changes and other trends affecting the entertainment industry, and the risk factors as set forth in Lionsgate’s Quarterly Report on Form 10-Q, filed with the Securities and Exchange Commission (the “SEC”) on November 9, 2015, which risk factors are incorporated herein by reference. The Company undertakes no obligation to publicly release the result of any revisions to these forward-looking statements that may be made to reflect any future events or circumstances.
starbuxsux
9 years ago
LIONSGATE TO RELEASE FISCAL YEAR 2016 SECOND QUARTER EARNINGS AFTER MARKET CLOSEON MONDAY, NOVEMBER 9, AND TO HOLD ANALYST AND INVESTOR CONFERENCE CALL ON TUESDAY, NOVEMBER 10
12:00 PM ET 10/16/15 | PR Newswire
Lionsgate (NYSE: LGF), a premier next generation global content leader, today announced it will release its financial results for the second quarter of fiscal year 2016 (quarter ended September 30, 2015) after market close on Monday, November 9, 2015.
http://photos.prnewswire.com/prnvar/20130919/LA83194LOGO
Lionsgate senior management will hold its analyst and investor conference call to discuss its second quarter financial results at 9:00 A.M. ET/6:00 A.M. PT on Tuesday, November 10, 2015. Interested parties may participate live in the conference call by calling 1-800-230-1059 (612-234-9959 outside the U.S. and Canada). A full digital replay will be available from Tuesday morning, November 10, through Tuesday, November 17, by dialing 1-800-475-6701 (320-365-3844 outside the U.S. and Canada) and using access code 371505.
ABOUT LIONSGATE
Lionsgate is a premier next generation global content leader with a strong and diversified presence in motion picture production and distribution, television programming and syndication, home entertainment, digital distribution, new channel platforms, video games and international distribution and sales. Lionsgate currently has more than 30 television shows on over 20 different networks spanning its primetime production, distribution and syndication businesses, including the critically-acclaimed hit series Orange is the New Black, the multiple Emmy Award-winning drama Mad Men, the hit broadcast network series Nashville, the syndication success The Wendy Williams Show, the acclaimed drama Manhattan and the breakout series The Royals.
Its feature film business has been fueled by such successes as the blockbuster first three installments of The Hunger Games franchise, the first two installments of the Divergent franchise, Sicario, The Age of Adaline, CBS/Lionsgate's The DUFF, John Wick, Now You See Me, Roadside Attractions' Love & Mercy and Mr. Holmes, Lionsgate/Codeblack Films' Addicted and Pantelion Films' Instructions Not Included, the highest-grossing Spanish-language film ever released in the U.S.
Lionsgate's home entertainment business is an industry leader in box office-to-DVD and box office-to-VOD revenue conversion rates. Lionsgate handles a prestigious and prolific library of approximately 16,000 motion picture and television titles that is an important source of recurring revenue and serves as the foundation for the growth of the Company's core businesses. The Lionsgate and Summit brands remain synonymous with original, daring, quality entertainment in markets around the world. www.lionsgate.com
For further information, please contact:Peter D. Wilkes310-255-3726pwilkes@lionsgate.com
or
Cristina Castaneda310-255-5114ccastaneda@lionsgate.com
Logo - http://photos.prnewswire.com/prnh/20130919/LA83194LOGO
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/lionsgate-to-release-fiscal-year-2016-second-quarter-earnings-after-market-closeon-monday-november-9-and-to-hold-analyst-and-investor-conference-call-on-tuesday-november-10-300160992.html
SOURCE Lionsgate
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