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Lions Gate Entertainment Corp (929351) SEC Filing 10-K Annual report for the fiscal year ending Friday, March 31, 2017

Lions Gate Entertainment Corp

CIK: 929351


Exhibit 99.1

lgcorpa07.jpg

LIONSGATE REPORTS RESULTS FOR FOURTH QUARTER AND FULL YEAR FISCAL 2017

Fourth Quarter Revenue is $1.26 Billion, Net Income Attributable to Lionsgate Shareholders is $62 Million or Basic EPS of $0.30; Adjusted OIBDA is $163 Million

Full Year Revenue is $3.2 Billion; Net Income Attributable to Lionsgate Shareholders is $15 Million or Basic EPS of $0.09; Adjusted OIBDA is $235 Million

Strong Film Slate Driven by La La Land, John Wick: Chapter Two and Tyler Perry’s Boo! A Madea Halloween

Lionsgate Television Group Posts Record Revenue of $837 Million

SANTA MONICA, CA and VANCOUVER, BC, May 25, 2017 - Lionsgate (NYSE: LGF.A, LGF.B) today reported revenue of $3.2 billion, net income attributable to Lionsgate shareholders of $15 million or basic EPS of $0.09 on 165.0 million weighted average common shares outstanding, adjusted net income attributable to Lionsgate shareholders of $174 million or adjusted basic EPS of $1.06, operating loss of $16 million and adjusted OIBDA of $235 million for fiscal 2017 (year ended March 31, 2017).

“We’re pleased to report our first full quarter of financial results since we brought Starz into the Lionsgate family, and the numbers reflect a great finish to a strong year,” said Lionsgate Chief Executive Officer Jon Feltheimer. “Our film slate ended fiscal 2017 with an impressive box office run, our Television Group turned in another standout performance and Starz had a great year. We couldn’t be more pleased with how successfully we’re integrating them into our operations and, working together, unlocking fresh opportunities.”

The results included $89 million in restructuring and other costs primarily associated with Lionsgate’s December 8, 2016 acquisition and subsequent integration of Starz.

Fourth Quarter Results

For the fourth quarter ended March 31, 2017, the Company reported revenue of $1.26 billion, net income attributable to Lionsgate shareholders of $62 million or basic EPS of $0.30 on 204.4 million weighted average common shares outstanding, adjusted net income attributable to Lionsgate shareholders of $120 million or adjusted basic EPS of $0.59, operating income of $71 million and adjusted OIBDA of $163 million.

With Lionsgate’s acquisition of Starz, fiscal 2017 financial results are not directly comparable to prior reporting periods, so the following quarterly segment results will be discussed on a combined pro forma basis.

Media Networks reported revenues of $370.8 million up from $365.6 million last year on a combined pro forma basis. Segment profits increased a healthy 10.7% in the quarter to $124.8 million as G&A expense controls and the licensing of Black Sails contributed in the quarter. Segment profit margins improved in the quarter to 33.7% from 30.8% on a combined pro forma basis. Starz flagship subscribers ended the fiscal year at 24.2 million, up from 24.0 million in the year ago quarter.

Motion Picture segment revenues in the quarter increased 7.3% on a combined pro forma basis to $654.0 million driven by the global blockbuster La La Land, winner of six Academy Awards®, John Wick: Chapter Two, and The Shack. Segment profit increased to $52.0 million from $2.5 million as higher revenue more than offset direct operating expenses and marketing spend. On a combined pro forma basis segment profit margins increased from 0.4% to 8.0% in the quarter. 

Television Production segment financial results in the quarter compared to a record prior year quarter that included the international delivery of four seasons of Orange is the New Black. Revenues for the quarter were $242.6 million on a combined pro forma basis, segment profit decreased to $13.0 million from a record $42.1 million last year and segment profit margins declined from 16.7% to 5.4% in the quarter on a combined pro forma basis.

Lionsgate’s backlog, or already contracted future revenue on the licensing of film and television product not yet recorded, was $1.4 billion at March 31, 2017.

Lionsgate senior management will hold its analyst and investor conference call to discuss its fiscal year 2017 financial results at 5:00 P.M. ET/2:00 P.M. PT this afternoon, May 25. Interested parties may listen to the live webcast by visiting the events page on the Lionsgate corporate website or via http://services.choruscall.com/links/lgf170525ldOgQ2Fz.html. A full replay will become available this afternoon, May 25, by clicking the same link.

ABOUT LIONSGATE

Lionsgate (NYSE: LGF.A, LGF.B) is a vertically integrated next generation global content leader with a diversified presence in motion picture production and distribution, television programming and syndication, premium pay television networks, home entertainment, global distribution and sales, interactive ventures and games and location-based entertainment.

With the acquisition of Starz, Lionsgate adds to its portfolio of businesses the flagship STARZ premium pay network serving 24.2 million subscribers. The combined company will operate five over-the-top (OTT) streaming services and the STARZ app delivering content directly to consumers.

The Company’s feature film business spans eight labels and includes the blockbuster The Hunger Games franchise, the Now You See Me series, the box office smash La La Land, which won six Academy Awards®, the hit franchise sequel John Wick: Chapter Two, double Oscar winner Hacksaw RidgeTyler Perry’s Boo! A Madea Halloween, The Shack, Saban’s Power Rangers, CBS Films/Lionsgate’s Hell or High Water, Roadside Attractions' critically-acclaimed Manchester by the Sea, Codeblack Films’ breakout concert film Kevin Hart: Let Me Explain and Pantelion Films’ Instructions Not Included, the highest-grossing Spanish-language film ever released in the U.S., and recent breakout hit How To Be A Latin Lover.

One of the largest independent television businesses in the world, Lionsgate’s slate of premium quality series encompasses nearly 90 shows on more than 40 different networks. These include the ground-breaking Orange is the New Black, the fan favorite Nashville, the syndication success The Wendy Williams Show, the hit drama The Royals, the acclaimed Casual, the breakout success Greenleaf, the network reality shows Kicking & Screaming and the eagerly-anticipated Candy Crush, and hit STARZ series including OutlanderBlack SailsSurvivor’s Remorse and Power, the second highest-rated premium pay television series of 2016.

Lionsgate's home entertainment business is an industry leader in box office-to-DVD and box office-to-VOD revenue conversion rates. Lionsgate handles a prestigious and prolific library of more than 16,000 motion picture and television titles that is an important source of recurring revenue and serves as a foundation for the growth of the Company's core businesses. The Lionsgate, Summit Entertainment and Starz brands are synonymous with original, daring, quality entertainment in markets around the world. www.lionsgate.com


***
For further information, Investors should contact:
James Marsh
310-255-3651
jmarsh@lionsgate.com

For Media inquiries, please contact:
Peter Wilkes
310-255-3726
pwilkes@lionsgate.com

The matters discussed in this press release include forward-looking statements, including those regarding the performance of future fiscal years.  Such statements are subject to a number of risks and uncertainties. Actual results in the future could differ materially and adversely from those described in the forward-looking statements as a result of various important factors, including the substantial investment of capital required to produce and market films and television series, increased costs for producing and marketing feature films and television series; budget overruns; limitations imposed by our credit facilities and notes; unpredictability of the commercial success of our motion pictures and television programming; risks related to acquisition and integration of acquired businesses; the effects of dispositions of businesses or assets, including individual films or libraries; the cost of defending our intellectual property; technological changes and other trends affecting the entertainment industry; potential adverse reactions or changes to business or employee relationships, including those resulting from the recent acquisition of Starz; competitive responses to the transaction; the possibility that the anticipated benefits of the transaction are not realized when expected or at all, including as a result of the impact of, or problems arising from, the integration of the two companies; diversion of management’s attention from ongoing business operations and opportunities; our ability to complete the integration of Starz successfully; litigation relating to the transaction; other trends affecting the entertainment industry; and the other risk factors as set forth in Lionsgate’s Annual Report on Form 10-K filed with the Securities and Exchange Commission, which risk factors are incorporated herein by reference.  The Company undertakes no obligation to publicly release the result of any revisions to these forward-looking statements that may be made to reflect any future events or circumstances.

Additional Information Available on Website
The information in this press release should be read in conjunction with the financial statements and footnotes contained in the Company’s Annual Report on Form 10-K for the year ended March 31, 2017, which will be posted on the Company’s website at www.lionsgate.com/corporate/reports/sec-filings, when filed with the Securities and Exchange Commission.  Trending schedules containing certain financial information will also be available at www.lionsgate.com/corporate/reports.





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The following information was filed by Lions Gate Entertainment Corp on Thursday, May 25, 2017 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Additional Financial Information (tables)
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Capital Stock (narrative - Equity) (details)
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Consolidating Financial Information - Convertible Senior Subordinated Notes (statement Of Cash Flows) (details)
Consolidating Financial Information - Convertible Senior Subordinated Notes (statement Of Comprehensive Income (loss)) (details)
Consolidating Financial Information - Convertible Senior Subordinated Notes (statement Of Income) (details)
Consolidating Financial Information - Convertible Senior Subordinated Notes (tables)
Debt
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Film Obligations And Production Loans
Film Obligations And Production Loans (film Obligations And Production Loans) (details)
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Quarterly Financial Data (unaudited)
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Segment Information
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Segment Information (adjusted Depreciation And Amortization) (details)
Segment Information (adjusted Share-based Compensation Expense) (details)
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Segment Information (purchase Accounting And Related Adjustments) (details)
Segment Information (reconciliation Of Segment General And Administration To Consolidated) (details)
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Segment Information (revenue And Tangible Assets By Geographic Location) (details)
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Significant Accounting Policies
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Subsequent Events
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CIK: 929351
Form Type: 10-K Annual Report
Accession Number: 0000929351-17-000016
Submitted to the SEC: Thu May 25 2017 5:01:44 PM EST
Accepted by the SEC: Thu May 25 2017
Period: Friday, March 31, 2017
Industry: Motion Picture And Video Tape Production

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