Lionsgate Unveils Fiscal 2011 Estimates To Accompany $150 Million Notes Issue

Lionsgate said it will lose between $66 and $78 million on revenue in the $1.5 billion to $1.6 billion range for the year to March 31.

TORONTO -- Lionsgate on Monday warned its fiscal 2011 revenue line will come in below analyst projections.

Vancouver-based Lionsgate in an SEC regulatory filing said projected 2011 revenue of between $1.5 billion and $1.6 billion will miss a street estimate of $1.62 billion, according to Thomson Reuters.

The mini studio posted overall revenue of $1.49 billion last year.

Lionsgate also expects a loss of $66 million to $78 million for year ended on March 31, compared to a loss of $19.5 million in 2010, due to higher interest expenses.

The latest profit and revenue guidance follows Lionsgate issuing $150 million in high yield notes.

That debt issue, coming close to when Lionsgate releases its latest financial results later this month, apparently prompted company bankers to call for preliminary estimates for full year 2011.

Lionsgate’s available cash under its revolver came to $341.8 million as of March 31, 2011, against around $170.2 million under the same facility as of December 31, 2010.

Lionsgate also faced a series of one-time charges in fiscal 2011 to fend off a proxy battle with Carl Icahn, it’s largest shareholder.

The company said it intends to release 11 to 13 theatrical films in fiscal 2012, compared to a dozen in 2011.

And Lionsgate in the SEC filing said it expects to deliver around the same number of TV show episodes as it did in 2011, or 81 episodes in all.

Lionsgate will report its latest financial results after the market close on Tuesday, May 31.

An analyst call will follow premarket on June 1.