Lionsgate revenues roar

(June 1, 2009)  A Variety Magazine article by Dave McNary that talks about Lionsgate’s jump in revenue 1Q2009.  Interestingly enough, Tyler Perry’s “Madea Goes to Jail” helped boost the studios earnings.

(EXCERPT)  Driven by strong box office, homevid and library sales, Lionsgate reported its second-highest quarterly revenue of $463.2 million for its fourth quarter ended March 31 — but that wasn’t enough to save it from a $163 million loss for the fiscal year.

The 2009 revenues were up 8% but the loss was more than double the $74 million loss in fiscal 2008.

Lionsgate said the fiscal-year loss was due primarily to underperformance of its film slate during its second and third quarters and a $36.1 million charge taken on its DVD distribution of Hit Entertainment’s family entertainment titles.

"Tyler Perry's Madea Goes To Jail"

“We ended our fiscal year on a strong note, with record box office in the first calendar quarter,” Feltheimer said. “We are also pleased that we could drive library, home entertainment and television revenues to record levels in such a challenging market environment. We believe that continued strength in our core businesses coupled with meaningful contributions from many of our recent investments and lower theatrical marketing costs position us for strong positive metrics in fiscal 2010.”

For the 2009 fiscal year, motion picture revenue jumped 17% to $223.3 million, propelled by fourth-quarter titles including “Tyler Perry’s Madea Goes to Jail,” ”My Bloody Valentine” and “The Haunting in Connecticut.”

Read the full article at VARIETY

###