Lions Gate Entertainment Corporation (LGF) swung to a net loss for the quarter ended Dec. 31, 2016. The company has made a net loss of $31 million, or $ 0.19 a share in the quarter, against a net profit of $41 million, or $0.26 a share in the last year period. On the other hand, adjusted net income for the quarter stood at $34 million, or $0.20 a share compared with $55 million or $0.35 a share, a year ago.
Revenue during the quarter grew 12.07 percent to $752 million from $671 million in the previous year period. Operating margin for the quarter stood at negative 0.93 percent as compared to a negative 1.34 percent for the previous year period.
Operating loss for the quarter was $7 million, compared with an operating loss of $9 million in the previous year period.
However, the adjusted EBITDA for the quarter stood at $138 million compared with $54 million in the prior year period. At the same time, adjusted EBITDA margin improved 1030 basis points in the quarter to 18.35 percent from 8.05 percent in the last year period.
"We're pleased to report increased profits across our film, television and media networks divisions as well as another strong revenue performance from our Television Group," said Lionsgate chief executive officer Jon Feltheimer. "We've just completed one of our busiest and most productive quarters ever as we continue to scale our global content platform and integrate Starz into our operations. Our strong film and television offerings are now complemented by our Starz premium network that is becoming a “must-have” value proposition for the digital age."
Operating cash flow turns positiveLions Gate Entertainment Corporation has generated cash of $416 million from operating activities during the nine month period as against cash outgo of $111 million in the last year period. The company has spent $1,084 million cash to meet investing activities during the nine month period as against cash outgo of $145 million in the last year period.
Cash flow from financing activities was $1,203 million for the nine month period, up 397.11 percent or $961 million, when compared with the last year period.
Cash and cash equivalents stood at $595 million as on Dec. 31, 2016, up 573.90 percent or $506.71 million from $88.29 million on Dec. 31, 2015.
Working capital increases sharply
Lions Gate Entertainment Corporation has recorded an increase in the working capital over the last year. It stood at $285 million as at Dec. 31, 2016, up 222.79 percent or $196.71 million from $88.29 million on Dec. 31, 2015.
Debt increases substantiallyLions Gate Entertainment Corporation has witnessed an increase in total debt over the last one year. It stood at $3,575 million as on Dec. 31, 2016, up 393.44 percent or $2,850.49 million from $724.51 million on Dec. 31, 2015. Short-term debt stood at $118 million as on Dec. 31, 2016. Long-term debt stood at $3,457 million as on Dec. 31, 2016. Total debt was 38.11 percent of total assets as on Dec. 31, 2016, compared with 18.88 percent on Dec. 31, 2015. Debt to equity ratio was at 1.54 as on Dec. 31, 2016, up from 0.76 as on Dec. 31, 2015. Disclaimer: Please note that this is an auto-generated article. IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website. For queries contact: editor@irisindia.net
