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.
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