Lionsgate Swings to First-Quarter Profit

Earnings from its movie and TV pipeline helped the ministudio exceed street estimates.

TORONTO -- Lionsgate on Thursday swung to a first-quarter profit on its movie and TV pipeline profits. The ministudio beat estimates and posted first-quarter earnings at $13.6 million, or 10 cents a share, compared to a $44.2 million loss in the prior year quarter.

Revenue for the three months to June 30 came to $569.7 million, up 21 percent from $471.8 million in 2012. The street estimate had Lionsgate posting earnings of 8 cents a share on revenue of $524.2 million. Gains in Lionsgate's TV production, home entertainment and international operations offset falling theatrical revenue compared to the 2012 period that included most of the domestic theatrical release for the first Hunger Games release.

STORY: Lionsgate's Jon Feltheimer, Michael Burns Reap 'Hunger Games' Windfall 

The second movie, Hunger Games: Catching Fire, is due out in theaters on Nov. 22, 2013. Total motion picture segment revenue during the first quarter was $438.6 million, up 8 percent from 2012.

Lionsgate's home entertainment revenue from both motion pictures and TV rose 16 percent to $169.4 million, while digital media revenue jumped 21 percent to $63.2 million.

TV revenue in the motion picture segment was $36.8 million, just off from a year-earlier $37.1 million. And international motion picture segment revenue, excluding Lionsgate UK, leapt 63 percent to $79.1 million on the performance of Now You See Me; The Twilight Saga: Breaking Dawn Part 2; The Impossible; Warm Bodies and The Last Stand.

Lionsgate U.K. revenue hovered at $32.4 million, virtually unchanged from a year-earlier $32.6 million.

And revenue from TV production more than doubled to $131.1 million on deliveries of Anger Management, the sixth season of Mad Men, and the first seasons of Nashville and Orange Is the New Black.

"We're pleased with our first-quarter results, with particularly strong contributions from our diversified television slate, packaged and digital media and our robust international performance," said Lionsgate CEO Jon Feltheimer in a statement Thursday after the ministudio's results were unveiled following the market close.

Feltheimer and senior Lionsgate executives will hold an analyst call on Friday morning to discuss their latest financial results.

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