Boxoffice - March 219

Lionsgate (LGF) reported fiscal Q3
2019 results (three months ended
December 31, 2019), which included
revenue of $933.2 million, compared to
top-line results of $1.14 billion in the
company’s fiscal Q3 2018. On a segmented
basis, the company’s motion picture
division disclosed revenue of $362.6
million. Segment profits decreased by
19.9 percent to $43.5 million, reflecting
underperformance of certain titles in
fiscal Q3 ’19, compared to the outperformance
of the movie Wonder, in the prior
year quarterly period.
Analyst Jim Goss of Barrington
Research weighed in on LGF’s financials:
“The segment faced difficult fiscal
Q3 comparisons in theatrical revenues
and some downstream revenue categories,
driving a significant revenue
dip, though overall revenue levels were
somewhat above
estimates. Profits in
the segment were
lower due to softer
revenues, though
strong cost control
provided an offset.
“The company
has remained focused
on a risk-mitigation
strategy
in its film slate,
reducing overall
exposure to any one film, while aiming
for smaller releases as a form of alternative
programming to major blockbusters.
Management also highlighted confidence
in its 2020 slate with a balanced slate of
content with strong early indications for
box office success including John Wick
Chapter 3 (above) and Hellboy in the first
fiscal quarter, positioning the studio well
for growth in fiscal 2020.”
KEANU REEVES IN THE UPCOMING JOHN WICK: CHAPTER 3 – PARABELLUM
Devasis “Dev” Ghose announced
his retirement from Reading International,
Inc. (RDI) as the company’s
executive vice president, chief financial
officer, and treasurer. Gilbert Avanes,
vice president, financial planning and
analysis, was appointed interim CFO
and treasurer. To ensure a seamless
transition, Ghose will serve for a year as
Reading’s ongoing advisor.
MARCH 2019
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