MUMBAI: Lionsgate, the leading independent filmed entertainment studio, continued its growth momentum, reporting revenues of $290.9 million and net income of $2.0 million for the third quarter.
The company achieved its best revenue performance ever for a fiscal third quarter. Lionsgate reported net income of $2.0 million. Diluted net income per common share was $0.02 on 120.3 million adjusted weighted average common shares outstanding.
The company noted that revenue growth of 14% from the prior year third quarter was driven by strong theatrical box office, international revenue growth and continued strength in television production revenues.
“Our theatrical, television, home entertainment, library, international and digital businesses all achieved continued solid performance in the quarter,” said Lionsgate co-chairman and chief executive officer Jon Feltheimer. “With an anticipated record-breaking revenue and free cash flow quarter ending March 31, we are on track to meet our full year guidance.”
Lionsgate had two hit theatrical releases in the quarter, Saw IV and Tyler Perry’s Why Did I Get Married?, and the company has now had seven hit releases in a row — The Eye, Rambo, Saw IV, Why Did I Get Married?, 3:10 To Yuma, Good Luck, Chuck and War.
