Lions Gate Posts Loss, Boosts Sales Forecast
Lions Gate Entertainment Corp., co-distributor of the controversial Michael Moore film “Fahrenheit 9/11,” reported a steep full-year loss as a jump in marketing and distribution costs bit into its bottom line.
The independent film and television studio, which is based in Vancouver, Canada, but houses most of its operations in Santa Monica, increased its revenue forecasts for fiscal 2005 to $680 million from $650 million.
For the year ended March 31, Lions Gate posted a loss of $94.2 million, or $1.35 a share, versus a year-earlier profit of $1.1 million.
Lions Gate shares closed unchanged at $6.80 on the American Stock Exchange after the results were released.
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