Lions Gate Swings Low
16/08/12 10:24 Filed in: Seeking Alpha | Media
Lions Gate (NYSE: LGF) recently reported a second quarter net loss of $44.2 million compared with a gain of $10.3 million the year prior. Revenue increased 81% fueled by the release of "The Hunger Games." This revenue was not enough to offset the higher marketing costs to release the movie. Lions Gate released 5 movies in theaters in the second quarter, an increase from just one the year prior. The company has yet to see the benefits from home video sales of these releases, which is set for the third quarter. Lions Gate also cited the expense of integrating Summit Entertainment as a cause of profit loss. Lions Gate acquired Summit Entertainment, which made such films as "Twilight," for $412.5 million in January.
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