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Lions Gate dips on swing to loss, falling revenues

May 23, 2019 4:40 PM ETBy: Jason Aycock, SA News Editor13 Comments
  • Lions Gate Entertainment is lower after hours (LGF.A -1%, LGF.B -0.4%) on light volume after missing on top and bottom lines in its fiscal Q4 earnings, where the potentially-up-for-sale Starz operation and streaming was a bright spot in falling revenues.
  • The company's been productive this year in setting up for the future, CEO Jon Feltheimer says: "We've refilled our film and television content pipelines, refocused on extracting maximum value from our franchise properties and are capitalizing on an extraordinary opportunity to continue Starz's global expansion and cement its stature as one of the leading international pure play subscription video-on-demand services."
  • Revenues dropped by double digits, with motion picture revenues down nearly 16%.
  • While total operating expenses declined, the company swung to an operating loss of $34M vs. a $48.4M gain a year ago.
  • And considering investing expense and income tax provisions, it swung to an attributable net loss of $155.2M, vs. a year-ago profit of $91.3M.
  • Starz had 24.7M domestic subscribers (up 1.2M Y/Y), pushed by over-the-top growth to more than 4M subs.
  • Revenue by segment: Motion Picture, $357.6M (down 15.8%); Television Production, $272.8M (down 7.4%); Media Networks, $362M (up 2.4%).
  • Profit by segment: Motion Picture, $20.9M (down 28.4%); Television Production, $19.5M (down 10.6%); Media Networks, $90.9M (down 20.7%).
  • Cash and equivalents were $184.3M, down from a year-ago $378.1M.
  • Conference call to come at 5 p.m. ET.
  • Previously: Lions Gate Entertainment misses by $0.11, misses on revenue (May. 23 2019)
  • Press release

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