Lions Gate Posts Profit; Sales Surge
From Reuters
Lions Gate Entertainment Corp. swung to a quarterly profit from a year-earlier loss as revenue more than doubled, driven by home video sales and the success of its films “Open Water” and “Fahrenheit 9/11.”
The Vancouver, Canada-based film distributor reported net income of $8.3 million, or 8 cents a share, for its second fiscal quarter, contrasted with a loss of $274,000, or 1 cent, a year earlier. Revenue rose to $231 million from $93 million.
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