Lions Gate Q2 Profit Falls - Quick Facts

(RTTNews) - Lions Gate Entertainment Corp. (LGF) reported that its second-quarter net income plunged to $0.5 million or breakeven per share from $75.5 million or $0.53 per share in the prior year quarter. This included a $36.2 million charge on early extinguishment of debt.

Adjusted net income for the latest-quarter was $25.4 million or $0.18 per share, down from $83.4 million or $0.58 per share in the prior year quarter.

Analysts polled by Thomson Reuters expected the company to report a loss of $0.08 per share for the quarter. Analysts' estimates typically exclude special items.

Net income in the quarter declined as inclusion of charges for early extinguishment of debt, the comparison to the prior year second quarter home entertainment release of The Hunger Games and the timing of television deliveries, offset lower theatrical marketing costs and continued decline in interest expense.

Revenue of $498.7 million for the second quarter declined by 29% compared to $707.0 million in the prior year quarter, reflecting the comparison to a prior year second quarter that included the home entertainment release of The Hunger Games as well as timing of television deliveries. Eleven analysts estimated revenues of $528.85 million for the quarter.