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Lions Gate Entertainment Corp (929351) SEC Filing 10-Q Quarterly report for the period ending Sunday, December 31, 2017

Lions Gate Entertainment Corp

CIK: 929351


Exhibit 99.1

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LIONSGATE REPORTS RESULTS FOR THIRD QUARTER 2018

Third Quarter Revenue is $1.14 Billion, Net Income Attributable to Lionsgate Shareholders is $193 Million or Basic EPS of $0.92; Adjusted OIBDA is $178 Million

Company Reports $140 Million in Free Cash Flow in the Quarter

Company Resumes Quarterly Cash Dividend of $0.09 per Common Share

SANTA MONICA, CA, and VANCOUVER, BC, February 8, 2018 -- Global content leader Lionsgate (NYSE: LGF.A, LGF.B) today reported revenue of $1.14 billion, net income attributable to Lionsgate shareholders of $193 million, or basic EPS of $0.92 on 208.8 million weighted average common shares outstanding, and adjusted net income attributable to Lionsgate shareholders of $107 million, or adjusted basic EPS of $0.51, for the third quarter of fiscal 2018 (quarter ended December 31, 2017). The Company also reported operating income of $80 million, adjusted OIBDA of $178 million, and free cash flow of $140 million in the quarter, while paying down $113 million of corporate debt.

Net income and basic EPS include a one-time income tax benefit of $165 million reflecting the impact of the lower U.S. income tax rate under the new tax laws on our net deferred tax liabilities.

“Our strong performance in the quarter, with robust contributions from our Motion Picture Group and Starz, keeps us on track for our fiscal year expectations,” said Lionsgate Chief Executive Officer Jon Feltheimer. “With this financial strength, we’re pleased to announce that our Board has approved the resumption of our quarterly cash dividend, returning value to our shareholders as we continue to grow our Company. Despite a disruptive operating environment, the quarter shows our success in creating premium content that cuts through the clutter of a crowded marketplace and our ability to supply it to a diverse array of media companies.”

Revenue in the quarter of $1.14 billion increased 52% from $752 million in the prior year quarter. Net income attributable to Lionsgate shareholders of $193 million, or basic EPS of $0.92 per share, compared to a net loss of $31 million, or basic loss of $0.19 per share, in the prior year quarter. Adjusted OIBDA of $178 million and operating income of $80 million in the quarter compared to adjusted OIBDA of $86 million and operating loss of $7 million in the prior year quarter, respectively.

The Company announced that it has resumed its quarterly cash dividend of $0.09 per each class of common shares payable on May 1, 2018, to shareholders of record as of March 31, 2018.

Third Quarter Results
With Lionsgate's acquisition of Starz, fiscal 2018 third quarter results are not directly comparable to prior reporting periods, so the following quarterly segment results will be discussed as compared to the prior year quarter on a combined pro forma basis.

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The following information was filed by Lions Gate Entertainment Corp on Thursday, February 8, 2018 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Unaudited Condensed Consolidated Balance Sheets
Unaudited Condensed Consolidated Balance Sheets (parenthetical)
Unaudited Condensed Consolidated Statement Of Equity
Unaudited Condensed Consolidated Statements Of Cash Flows
Unaudited Condensed Consolidated Statements Of Cash Flows (parenthetical)
Unaudited Condensed Consolidated Statements Of Comprehensive Income (loss)
Unaudited Condensed Consolidated Statements Of Income
Additional Financial Information
Additional Financial Information (non-cash Investing Activities) (details)
Additional Financial Information (other Assets) (details)
Additional Financial Information (tables)
Capital Stock
Capital Stock (common Shares Reserved For Future Issuance) (details)
Capital Stock (narrative) (details)
Capital Stock (share-based Compensation Expense By Category) (details)
Capital Stock (share-based Compensation Expense) (details)
Capital Stock (stock Option, Restricted Stock And Restricted Share Unit Activity) (details)
Capital Stock (tables)
Consolidating Financial Information - Convertible Senior Subordinated Notes
Consolidating Financial Information - Convertible Senior Subordinated Notes (balance Sheet) (details)
Consolidating Financial Information - Convertible Senior Subordinated Notes (narrative) (details)
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 Operations) (details)
Consolidating Financial Information - Convertible Senior Subordinated Notes (tables)
Contingencies
Contingencies (narrative) (details)
Debt
Debt (interest Expense) (details)
Debt (loss On Extinguishment Of Debt) (details)
Debt (narrative - 5.875% Senior Notes) (details)
Debt (narrative - Senior Credit Facilities) (details)
Debt (schedule Of Debt Issuance And Repayment Costs) (details)
Debt (schedule Of Debt) (details)
Debt (tables)
Derivative Instruments And Hedging Activities
Derivative Instruments And Hedging Activities (narrative) (details)
Derivative Instruments And Hedging Activities (outstanding Forward Foreign Exchange Contracts) (details)
Derivative Instruments And Hedging Activities (tables)
Fair Value Measurements
Fair Value Measurements (assets And Liabilities Required To Be Carried At Fair Value On A Recurring Basis) (details)
Fair Value Measurements (carrying Values And Fair Values Of Assets And Liabilities Not Required To Be Carried At Fair Value On A Recurring Basis) (details)
Fair Value Measurements (tables)
Film Obligations And Production Loans
Film Obligations And Production Loans (film Obligations And Production Loans) (details)
Film Obligations And Production Loans (narrative) (details)
Film Obligations And Production Loans (tables)
General
General (policies)
General (recent Accounting Pronouncements) (details)
Goodwill
Goodwill (goodwill) (details)
Goodwill (tables)
Income Taxes
Income Taxes (narrative) (details)
Investment In Films And Television Programs And Program Rights
Investment In Films And Television Programs And Program Rights (narrative) (details)
Investment In Films And Television Programs And Program Rights (schedule Of Investment In Films And Television Programs) (details)
Investment In Films And Television Programs And Program Rights (tables)
Investments
Investments (available-for-sale Securities) (details)
Investments (carrying Amount Of Equity Method Investments) (details)
Investments (cost Method Investments) (details)
Investments (equity Method Investee, Income (loss)) (details)
Investments (equity Method Investments Narrative) (details)
Investments (investments By Category) (details)
Investments (other Narrative) (details)
Investments (summarized Statement Of Income) (details)
Investments (tables)
Mergers And Acquisitions
Mergers And Acquisitions (components Of Purchase Consideration) (details)
Mergers And Acquisitions (narrative) (details)
Mergers And Acquisitions (purchase Price Allocation) (details)
Mergers And Acquisitions (tables)
Mergers And Acquisitions (valuation Model For Lions Gate Replacement Awards) (details)
Net Income (loss) Per Share
Net Income (loss) Per Share (anti-dilutive Shares Issuable) (details)
Net Income (loss) Per Share (basic) (details)
Net Income (loss) Per Share (diluted) (details)
Net Income (loss) Per Share (tables)
Noncontrolling Interests
Noncontrolling Interests (changes In Redeemable Noncontrolling Interest) (details)
Noncontrolling Interests (tables)
Restructuring And Other
Restructuring And Other (restructuring And Other) (details)
Restructuring And Other (tables)
Segment Information
Segment Information (adjusted Depreciation And Amortization) (details)
Segment Information (adjusted Share-based Compensation Expense) (details)
Segment Information (purchase Accounting And Related Adjustments) (details)
Segment Information (reconciliation Of Segment General And Administration To Consolidated) (details)
Segment Information (reconciliation Of Total Assets By Segment To Consolidated Assets) (details)
Segment Information (reconciliation Of Total Segment Profit To The Company's Income (loss) Before Income Taxes) (details)
Segment Information (segment Information By Business Unit) (details)
Segment Information (segment Revenues By Media Or Product Line) (details)
Segment Information (tables)
CIK: 929351
Form Type: 10-Q Quarterly Report
Accession Number: 0000929351-18-000009
Submitted to the SEC: Thu Feb 08 2018 4:15:17 PM EST
Accepted by the SEC: Thu Feb 08 2018
Period: Sunday, December 31, 2017
Industry: Motion Picture And Video Tape Production

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