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08.11.2018 22:10
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LIONSGATE REPORTS RESULTS FOR SECOND QUARTER FISCAL 2019
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PR Newswire
SANTA MONICA, Calif. and VANCOUVER, British Columbia, Nov. 8, 2018
SANTA MONICA, Calif. and VANCOUVER, British Columbia, Nov. 8, 2018 /PRNewswire/ -- Global content leader Lionsgate (NYSE: LGF.A, LGF.B) today reported revenue of $901.0 million and net loss attributable to Lionsgate shareholders of ($144.1) million, or fully diluted loss per share of ($0.67), on 213.6 million diluted weighted average common shares outstanding for the quarter ended September 30, 2018.
Adjusted net income attributable to Lionsgate shareholders was $48.2 million, or adjusted diluted earnings per share of $0.22, operating income was $39.1 million, and adjusted OIBDA was $128.8 million.
The unadjusted net loss included $114.1 million of charges in the quarter related to shareholder litigation settlements, comprised of $54.8 million for the previously disclosed settlement of the fiduciary litigation and, separately, $59.3 million related to the Appraisal (dissenters) litigation, representing the amount by which the settlement amount exceeds the previously accrued $901.9 million Appraisal (dissenters) shareholders liability.
The Company generated $99.5 million in free cash flow during the quarter.
Starz reported record growth in the quarter driven by a sequential increase of 1.3 million subscribers to a total of 25.1 million domestic subscribers with strong gains in both over-the-top (OTT) and traditional MVPD (multichannel video programming distributor) subscribers.
"We're pleased to report a strong quarter with robust free cash flow and outstanding growth at Starz," said Lionsgate Chief Executive Officer Jon Feltheimer. "Our great results at Starz reflect our slate of hit premium programming, strong over the top subscriber growth and retention, and healthy gains in our MVPD business. Coupled with the global expansion strategy we have begun to execute, we see a very clear path to outsized value creation for our platform."
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Segment Results
Media Networks segment revenues increased by 5% to $377.3 million due to strong OTT subscriber revenue. Segment profits increased 19% to $122.7 million from the prior year quarter. Domestic subscribers increased 1.3 million sequentially in the quarter, reaching 25.1 million, with growth in both traditional MVPD and OTT subscribers.
Motion Picture segment revenues decreased by 2% to $379.0 million. Segment profits increased by 45% to $12.9 million, reflecting the strong ancillary performance of previously released theatrical titles.
Television Production segment revenues were $152.1 million in the quarter. Segment profits came in at $9.4 million compared to the prior year quarter that included licensing of several major Starz original series.
Lionsgate senior management will hold its analyst and investor conference call to discuss its fiscal 2019 second quarter results at 5:00 PM ET/2:00 PM PT this afternoon, November 8th. Interested parties may listen to the live webcast by visiting the events page on the Lionsgate corporate website or via https://services.choruscall.com/links/lgf181108eo0J9Mra.html. A full replay will become available later this afternoon by clicking the same link.
ABOUT LIONSGATE
The first major new studio in decades, Lionsgate is a global content platform whose films, television series, digital products and linear and over-the-top platforms reach next generation audiences around the world. In addition to its filmed entertainment leadership, Lionsgate content drives a growing presence in interactive and location-based entertainment, gaming, virtual reality and other new entertainment technologies. Lionsgate's content initiatives are backed by a nearly 17,000-title film and television library and delivered through a global licensing infrastructure. The Lionsgate brand is synonymous with original, daring and ground-breaking content created with special emphasis on the evolving patterns and diverse composition of the Company's worldwide consumer base.
For further information, investors should contact:
James Marsh
310-255-3651
jmarsh@lionsgate.com
For media inquiries, please contact:
Peter 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 facilities and notes; unpredictability of the commercial success of our motion pictures and television programming; risks related to acquisition and integration of acquired businesses; the effects of dispositions of businesses or assets, including individual films or libraries; the cost of defending our intellectual property; technological changes and other trends affecting the entertainment industry; litigation relating to the acquisition of Starz; impact of the Tax Cuts and Jobs Act; other trends affecting the entertainment industry; and the other risk factors as set forth in Lionsgate's Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on November 8, 2018. 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.
Additional Information Available on Website
The information in this press release should be read in conjunction with the financial statements and footnotes contained in the Company's recent Quarterly Report on Form 10-Q, which will be posted on the Company's website at http://investors.lionsgate.com/financial-reports/sec-filings, when filed with the Securities and Exchange Commission. Trending schedules containing certain financial information will also be available at http://investors.lionsgate.com/governance/governance-documents.
| LIONS GATE ENTERTAINMENT CORP. | |||||||
| UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS | |||||||
| | |||||||
| | September 30, | | March 31, | ||||
| | (Unaudited, amounts in millions) | ||||||
| ASSETS | | | | ||||
| Cash and cash equivalents | $ | 372.3 | | | $ | 378.1 | |
| Accounts receivable, net | 1,059.0 | | | 946.0 | | ||
| Program rights | 234.2 | | | 253.2 | | ||
| Other current assets | 191.0 | | | 195.8 | | ||
| Total current assets | 1,856.5 | | | 1,773.1 | | ||
| Investment in films and television programs and program rights, net | 1,662.9 | | | 1,692.0 | | ||
| Property and equipment, net | 158.5 | | | 161.7 | | ||
| Investments | 129.8 | | | 164.9 | | ||
| Intangible assets | 1,928.5 | | | 1,937.7 | | ||
| Goodwill | 2,833.5 | | | 2,740.8 | | ||
| Other assets | 439.6 | | | 458.6 | | ||
| Deferred tax assets | 40.1 | | | 38.8 | | ||
| Total assets | $ | 9,049.4 | | | $ | 8,967.6 | |
| LIABILITIES | | | | ||||
| Accounts payable and accrued liabilities | $ | 585.9 | | | $ | 447.7 | |
| Participations and residuals | 494.3 | | | 504.5 | | ||
| Film obligations and production loans | 318.7 | | | 327.9 | | ||
| Debt - short term portion | 35.3 | | | 79.1 | | ||
| Dissenting shareholders' liability | 961.3 | | | 869.3 | | ||
| Deferred revenue | 238.0 | | | 183.9 | | ||
| Total current liabilities | 2,633.5 | | | 2,412.4 | | ||
| Debt | 2,458.0 | | | 2,478.3 | | ||
| Participations and residuals | 456.5 | | | 438.3 Werbung Mehr Nachrichten zur Lions Gate Entertainment Aktie kostenlos abonnieren
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