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Non-Tech : Lions Gate Entertainment Corporation
LGF 26.090.0%Dec 16 4:00 PM EST
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To: Spiney who wrote (38)9/23/1999 9:31:00 AM
From: Spiney  Read Replies (2) of 137
 
Globe says Lions Gate expects improved revenue

Lions Gate Entertainment Corp LGF
Shares issued 30,539,917 1999-09-22 close $2.6
Thursday Sep 23 1999
The Globe and Mail reports in its Thursday, Sept. 23, edition that Lions Gate Entertainment expects significantly higher revenues in 2000. The Globe's Wendy Stueck writes that it may take a little longer to put profits on the marquee, as the company's money-losing Mandalay Pictures division moves into full swing this year, with its first release scheduled for November and at least three others anticipated by the end of 2000. Lions Gate reported a loss of $14.2-million or 58 cents a share on sales of $118.3-million for the year ended March 31. A large portion of those losses -- $5.4-million or 38.5 per cent -- was related to the firm's stake in Mandalay. Lions Gate owns 45 per cent of Mandalay, a film production company run by Peter Guber, the high-profile producer of such movies as Batman and Midnight Express. Lions Gate stresses the losses incurred through Mandalay were non-cash losses, and that a more accurate reflection of Mandalay's impact on Lions Gate's bottom line will emerge as Mandalay releases films and begins to generate revenue.
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