Low-Budget Films Help Lions Gate Post Profit

Independent movie studio Lions Gate Entertainment reversed last year’s fiscal fourth-quarter loss with the success of low-budget offerings such as “Diary of a Mad Black Woman” and “Saw.”

Lions Gate posted net income of $20.1 million, or 17 cents a share in the quarter ended March 31, compared with a net loss of $50.5 million, or 56 cents, a year earlier. Wall Street had expected earnings of 28 cents.