Higher costs lead to Lions Gate loss

From Times Wire Services

Lions Gate Entertainment Corp. reported a loss for the year because of higher distribution and marketing expenses.

The net loss of $74 million, or 62 cents a share, compared with profit of $27.5 million, or 25 cents, a year earlier, the North Vancouver, Canada-based company said. The release did not include quarterly results.

Fourth-quarter sales jumped 64% to $511.5 million. For the year, sales soared 39% to $1.36 billion.