BRITISH COLUMBIA

Lionsgate reports US$163M fourth-quarter profit, sales grow to $785.7M

05/30/2013 04:15 EDT | Updated 07/30/2013 05:12 EDT
VANCOUVER - Lionsgate, the company behind the Hunger Games and Twilight movie franchises, said Thursday it earned a fourth-quarter profit of US$163 million compared with a loss a year ago as revenue grew more than 20 per cent.

The entertainment company, which reports in U.S. dollars, said the profit amounted to $1.10 per diluted share in the quarter ended March 31, up from a loss of US$22.7 million or 17 cents per diluted share a year ago.

Revenue totalled US$785.7 million, up from $645.2 million.

"We completed a stellar fiscal 2013 with an outstanding fourth quarter that reflected strong contributions from our young adult franchises as well as the rest of our theatrical slate and our home entertainment and international businesses," Lionsgate chief executive Jon Feltheimer said.

"We are performing ahead of plan for all of our metrics, and we're pleased with the financial strength of our diverse portfolio of businesses and our strong and growing momentum building Lionsgate into a next generation global content leader."

For the full year, the company said it earned $232.1 million or $1.61 per share on $2.71 billion in sales. That compared with a loss of $39.1 million or 30 cents on $1.59 billion in sales in the previous year.

Lionsgate is based in Santa Monica, Calif., but has key operations in Vancouver. In addition to its movie business, Lionsgate has 28 shows on 20 networks including Mad Men.