Lionsgate Q4 Profit Drops - Update

(RTTNews) - Lions Gate Entertainment Corp. (LGF) Thursday reported a plunge in profit for the fourth quarter, due largely to lower revenues.

Santa Monica, California-based Lions Gate's fourth-quarter profit dropped to $19.6 million or $0.14 per share from $49.2 million or $0.33 per share last year.

Excluding one-time items, adjusted earnings for the quarter dropped to $0.39 per share from $0.42 per share a year ago.

On average, 13 analysts polled by Thomson Reuters estimated earnings of $0.32 per share for the quarter. Analysts' estimates typically exclude special items.

Lions Gate, the maker of Twilight and Hunger Games movie series, said revenues for the fourth quarter dropped to $646.1 million from $721.9 million last year. Analysts had a consensus revenue estimate of $672.3 million for the quarter.

"We're pleased to report very strong financial results in fiscal 2015, bolstered by a stellar performance from our television business, complemented by a great year on the strategic front as well," said Lionsgate Chief Executive Officer Jon Feltheimer.

LGF closed Thursday's trading at $31.98, down $0.45 or 1.39%, on the NYSE. The stock, however, gained $0.27 or 0.84% in the after-hours trading.