Exhibit 99.1
LIONSGATE REPORTS STRONG FINANCIAL RESULTS FOR FISCAL 2015
Adjusted Net Income Increases to $257.5 Million or $1.85 Adjusted Basic Net Income per Share; Net Income Grows to $181.8 Million or $1.31 Basic Net Income per Share
Adjusted EBITDA Increases to $384.9 Million on Revenue of $2.40 Billion
Television Production Revenue Grows to Record $579.5 Million
Free Cash Flow Increases to $261.6 Million
SANTA MONICA, CA, and VANCOUVER, BC, May 21, 2015 - Lionsgate (NYSE: LGF), a premier next generation global content leader, today reported revenue of $2.40 billion, adjusted EBITDA of $384.9 million, adjusted net income of $257.5 million or $1.85 adjusted basic net income per share and net income of $181.8 million or $1.31 basic net income per share for fiscal 2015 (fiscal year ended March 31, 2015).
Free cash flow in fiscal 2015 was $261.6 million, marking the third straight year in which the Company delivered over $250 million in free cash flow.
Strong domestic and international television performance, a film slate including The Hunger Games: Mockingjay -- Part 1, Insurgent and John Wick, increased earnings from the Company’s investment in the EPIX channel, reduced interest expense and lower theatrical marketing costs all drove the Company’s profitability in the fiscal year.
“We’re pleased to report very strong financial results in fiscal 2015, bolstered by a stellar performance from our television business, complemented by a great year on the strategic front as well,” said Lionsgate Chief Executive Officer Jon Feltheimer. “With the launch of new strategic initiatives ranging from location-based entertainment and OTT platforms to video games and virtual reality, exciting new partnerships in China, a robust portfolio of current and future film franchises and the strongest balance sheet in the Company’s history, we’re very well positioned to capitalize on opportunities throughout our global environment.”
Adjusted EBITDA of $384.9 million in the fiscal year compared to adjusted EBITDA of $370.8 million in the prior year.
Adjusted net income of $257.5 million or $1.85 adjusted basic net income per share in the fiscal year increased 18% from adjusted net income of $217.9 million or $1.58 adjusted basic net income per share in the prior year.
Net income of $181.8 million or $1.31 basic net income per share on 139.0 million weighted average number of common shares outstanding increased 20% from $152.0 million or $1.11 basic net income per share on 137.5 million weighted average number of common shares outstanding in the prior year.
Free cash flow of $261.6 million in the fiscal year increased from $258.3 million in the prior year.
Revenue of $2.40 billion in the fiscal year declined 9% from $2.63 billion in the prior year due primarily to smaller theatrical and home entertainment slates of wide theatrical releases which offset gains in television production revenue. Lionsgate had 10 wide release theatrical films in the fiscal year compared
The following information was filed by Lions Gate Entertainment Corp (LGF) on Thursday, May 21, 2015 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.