Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Still wants to go higher!
LIONSGATE REPORTS RESULTS FOR SECOND QUARTER 2016
Revenue is $476.8 Million; Net Loss is $42.1 Million or Net Loss per Share of $0.28;
Adjusted EBITDA is Negative $8.1 Million
Mockingjay - Part 2, Allegiant, Orange is the New Black and Nashville Expected to Drive Film & Television Slates in Second Half of the Year
SANTA MONICA, CA and VANCOUVER, BC, November 9, 2015 - Lionsgate (NYSE: LGF) today reported revenue of $476.8 million, adjusted EBITDA of negative $8.1 million, adjusted net loss of $28.4 million or adjusted net loss per share of $0.19, and net loss of $42.1 million or net loss per share of $0.28 for the fiscal 2016 second quarter ended September 30, 2015.
The Company’s financial results in the quarter were affected by timing of episodic television deliveries and the shift of the wide release of the film Sicario into October. Although the move contributed to the film’s solid box office performance, it resulted in its marketing costs being recorded in the September quarter without significant offsetting revenue benefit. In addition, the wide release American Ultra underperformed during the quarter. The Company also recorded a write-down of $7.2 million on The Last Witch Hunter, a film released after the quarter.
“Although this quarter will be the lightest of the year due to timing and softer-than-anticipated performance of some of our recent film releases, our robust film and television pipelines position us for a very strong second half of the year,” said Lionsgate Chief Executive Officer Jon Feltheimer.
Adjusted EBITDA of negative $8.1 million for the quarter compared to adjusted EBITDA of $59.0 million in the prior year quarter. Adjusted net loss of $28.4 million or adjusted net loss per share of $0.19 for the quarter compared to adjusted net income of $33.0 million or adjusted EPS of $0.24 in the prior year quarter.
Net loss for the quarter was $42.1 million or net loss per share of $0.28 on 148.3 million weighted average number of common shares outstanding compared to net income of $20.8 million or EPS of $0.15 on 137.4 million weighted average number of common shares outstanding during the prior year quarter.
Revenue of $476.8 million for the quarter compared to $552.9 million in the prior year quarter.
Lionsgate Increases Quarterly Cash Dividend
During the quarter, the Company increased its quarterly cash dividend by 29% from $0.07 to $0.09 per common share payable on November 10, 2015 to shareholders of record as of September 30, 2015.
Company Reports Combined Cash Balance and Availability of Over $970 Million and Filmed Entertainment Backlog of $1.2 Billion
The Company reported a combined cash balance and availability on its revolving credit facility of over $970 million at September 30, 2015.
Lionsgate’s filmed entertainment backlog, or already contracted future revenue not yet recorded, was approximately $1.2 billion at September 30, 2015.
1
Overall Motion Picture segment revenue for the quarter was $354.0 million compared to $398.0 million in the prior year quarter. Theatrical revenue declined to $26.3 million with only two wide releases in the quarter, American Ultra and Shaun the Sheep.
As noted above, the wide release of the critically-acclaimed revenge thriller Sicario was moved to October 2nd and its performance will be reflected in a third quarter that also includes the release of the eagerly-anticipated fourth installment of the Company’s global blockbuster Hunger Games franchise, The Hunger Games: Mockingjay - Part 2. Mockingjay 2 will roll out in 86 territories around the world on November 20th, the biggest simultaneous global launch in the Company’s history.
Scheduled wide releases in the fourth quarter include the next film in the hit Divergent series, Allegiant, the visual effects-driven Gods of Egypt and the buddy comedy Dirty Grandpa, starring Robert DeNiro and Zack Efron.
Lionsgate’s home entertainment revenue from motion picture and television production for the quarter was $153.5 million compared to $164.4 million in the prior year quarter due to fewer wide release theatrical titles and product mix. The hit film Insurgent performed well on packaged media, VOD and electronic sell-through during the quarter.
Television revenue included in the Motion Picture segment of $59.9 million in the quarter compared to $69.4 million in the prior year quarter.
International Motion Picture segment revenue for the quarter was $107.8 million compared to $112.9 million in the prior year quarter.
Television production segment revenue was $122.8 million in the quarter compared to $154.9 million in the prior year quarter due to timing of episodic deliveries. Deliveries of the critically-acclaimed hit series Orange is the New Black, Nashville and The Royals are expected to drive revenue growth in the second half of the year. The Company continues to deepen its pipeline of original new series including Casual and Freddie Wong/RocketJump for Hulu, Broke for AMC, Guilt for ABC Family and Graves for Epix.
Lionsgate senior management will hold its analyst and investor conference call to discuss its fiscal 2016 second quarter financial results at 9:00 A.M. ET/6:00 A.M. PT on Tuesday, November 10, 2015. Interested parties may participate live in the conference call by calling 1-800-230-1059 (612-234-9959 outside the U.S. and Canada). A full digital replay will be available from Tuesday morning, November 10, through Tuesday, November 17, by dialing 1-800-475-6701 (320-365-3844 outside the U.S. and Canada) and using access code 371505.
ABOUT LIONSGATE
Lionsgate is a premier next generation global content leader with a strong and diversified presence in motion picture production and distribution, television programming and syndication, home entertainment, digital distribution, new channel platforms, video games and international distribution and sales. The Company currently has over 30 television shows on more than 20 networks spanning its primetime production, distribution and syndication businesses, including such critically-acclaimed hits as Orange is the New Black, the multiple Emmy Award-winning drama Mad Men, the broadcast network series Nashville, the syndication success The Wendy Williams Show, the drama series Manhattan and the breakout comedy The Royals.
Its feature film business has been fueled by such successes as the blockbuster first three installments of The Hunger Games franchise, the first two installments of the Divergent franchise, Sicario, The Age of Adaline, John Wick, CBS Films/Lionsgate’s The Duff, Now You See Me, Roadside Attractions’ Love & Mercy and Mr. Holmes and Pantelion Films’ Instructions Not Included, the highest-grossing Spanish-language film ever released in the U.S.
Lionsgate's home entertainment business is an industry leader in box office-to-DVD and box office-to-VOD revenue conversion rate. The Company handles a prestigious and prolific library of approximately 16,000 motion
2
picture and television titles that is an important source of recurring revenue and serves as the foundation for the growth of the Company's core businesses. The Lionsgate and Summit brands remain synonymous with original, daring, quality entertainment in markets around the world.
***
For further information, please contact:
Peter D. 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 facility and notes, unpredictability of the commercial success of our motion pictures and television programming, the cost of defending our intellectual property, difficulties in integrating acquired businesses, risks related to our acquisition strategy and integration of acquired businesses, the effects of disposition of businesses or assets, technological changes and other trends affecting the entertainment industry, and the risk factors as set forth in Lionsgate’s Quarterly Report on Form 10-Q, filed with the Securities and Exchange Commission (the “SEC”) on November 9, 2015, 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.
Gotta run out...keep your eye out for earnings!
I see red there...or "blood on the streets" (maybe that's why I bought in) but I can't remember the reason I placed the GTC order. We shall see...
I realize now the obvious difference after asking my question but I still would like to know why not just buy the put on the other side of the trade?
Why not just by a put?
Taken care of
OT
Elite Swing Trades
Moderator there needs to get rid of the trash or I'm not posting there anymore.
And you can do all of this on separate tickets? Separate orders? I was under the impression you had to do it all in one trade...but that may have been the "rolling" thing
Fri Nov 06 13:18:34 2015 Buy 4 QIWI Dec 18 '15 $22.50 Call Executed @ $0.2
Forgot I placed this one...I think I did so after the plane in Egypt went down.
Selling the calls implies you also own DIS shares correct?
On the E*Trade website, click the options tab from any stock quote or snapshot to get the options chain, then where you see the options chain to the far left of the calls and to the far right of puts you'll see "trade" and "details" and by clicking "details" you get that page which is the option chain‘s snapshot
Well??? What did he think?
I think this is a brilliant explanation...thank you!
Dude! Seriously?! Completely uncalled for...
You've been warned
Very nice!
And the UPRO puts? Still waiting for $70 or above before buying?
No I was referring to FIT
My bad...I don't know how I got my chart wrong that I was looking at...for some reason I had Monday's candle as yesterday
What to expect from Disney's earnings
Nov 03, 2015 15:43:00 (ET)
By Trey Williams, MarketWatch
'Star Wars: The Force Awakens' opens in theaters Dec. 18
The Walt Disney Co. is set to report its fourth-quarter earnings after the market closes on Thursday. The entertainment behemoth's film slate and TV networks, especially ESPN, will likely be topics of interest.
Here's what investors can expect:
Earnings: Analysts tracked by FactSet on average expect the House of Mouse (DIS) to report per-share earnings of $1.14, up 28% over 89 cents per share a year earlier. During its third quarter, Disney reported EPS of $1.45, beating FactSet consensus of $1.41. Disney has beat FactSet EPS consensus in 10 straight quarters, dating back to 2013.
Revenue: Disney is expected to report $13.55 billion in revenue for the fourth quarter, per analysts on FactSet. That would be a 9.4% increase compared with the same period a year ago, when Disney reported $12.38 billion in revenue. The bulk of Disney's fourth-quarter revenue is expected to come from its theme parks, at $4.37 billion, and cable networks, at $4.22 billion. The film arm is expected to pour in $1.79 billion. Disney's beat FactSet revenue consensus in eight of the last 10 quarters, but missed last quarter.
(https://w.graphiq.com/w/jqTHNmC9KCx)
Share price: Shares of Disney are up more than 23% in the year to date, outperforming the S&P 500 index, which is up 2.5%. The analysts tracked by FactSet have an average price target of $118.04, and an overweight rating. The most bullish analyst covering Disney has a $148 price target, according to FactSet. The most bearish holds an $89 price target.
Other issues: During Disney's third-quarter report and conference call, the company acknowledged it had subscriber losses for cable sports network ESPN. Wall Street was imbued with uncertainty when Disney Chief Executive Bob Iger said the company didn't see any need to offer ESPN as an Internet-only service devoid of a cable subscription within five years.
Given the positive subscriber trends from Comcast Corp.(CMCSA) and AT&T Inc.(T) , Nomura analyst Anthony DiClemente wrote in a recent note that he is optimistic about ESPN for the near term.
"We expect Disney management to emphasize the viability of the bundle and the ecosystem as a whole," he wrote.
ESPN has been cutting costs since last quarter--most recently suspending its popular Grantland (http://www.marketwatch.com/story/espn-ends-grantland-internet-calls-it-the-worst-decision-ever-2015-10-30) publication and laying off nearly 300 employees (http://www.marketwatch.com/story/espn-to-lay-off-about-300-employees-2015-10-21-111034330), about 4% of its workforce.
The Disney film arm has pulled in $1.49 billion at the box office so far this year, enough for the No. 2 spot among the top earning film studios. Disney is betting large on "Star Wars: The Force Awakens," set to debut Dec. 18.
"We recommend owning Disney shares into year-end, as we believe a strong quarter, the launch of 'Star Wars,' and benign expense growth at ESPN are all investment positives," DiClemente wrote.
-Trey Williams; 415-439-6400; AskNewswires@dowjones.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
(END) Dow Jones Newswires
11-03-15 1543ET
Copyright (c) 2015 Dow Jones & Company, Inc.
What to expect from Disney's earnings
Nov 03, 2015 15:43:00 (ET)
By Trey Williams, MarketWatch
'Star Wars: The Force Awakens' opens in theaters Dec. 18
The Walt Disney Co. is set to report its fourth-quarter earnings after the market closes on Thursday. The entertainment behemoth's film slate and TV networks, especially ESPN, will likely be topics of interest.
Here's what investors can expect:
Earnings: Analysts tracked by FactSet on average expect the House of Mouse (DIS) to report per-share earnings of $1.14, up 28% over 89 cents per share a year earlier. During its third quarter, Disney reported EPS of $1.45, beating FactSet consensus of $1.41. Disney has beat FactSet EPS consensus in 10 straight quarters, dating back to 2013.
Revenue: Disney is expected to report $13.55 billion in revenue for the fourth quarter, per analysts on FactSet. That would be a 9.4% increase compared with the same period a year ago, when Disney reported $12.38 billion in revenue. The bulk of Disney's fourth-quarter revenue is expected to come from its theme parks, at $4.37 billion, and cable networks, at $4.22 billion. The film arm is expected to pour in $1.79 billion. Disney's beat FactSet revenue consensus in eight of the last 10 quarters, but missed last quarter.
(https://w.graphiq.com/w/jqTHNmC9KCx)
Share price: Shares of Disney are up more than 23% in the year to date, outperforming the S&P 500 index, which is up 2.5%. The analysts tracked by FactSet have an average price target of $118.04, and an overweight rating. The most bullish analyst covering Disney has a $148 price target, according to FactSet. The most bearish holds an $89 price target.
Other issues: During Disney's third-quarter report and conference call, the company acknowledged it had subscriber losses for cable sports network ESPN. Wall Street was imbued with uncertainty when Disney Chief Executive Bob Iger said the company didn't see any need to offer ESPN as an Internet-only service devoid of a cable subscription within five years.
Given the positive subscriber trends from Comcast Corp.(CMCSA) and AT&T Inc.(T) , Nomura analyst Anthony DiClemente wrote in a recent note that he is optimistic about ESPN for the near term.
"We expect Disney management to emphasize the viability of the bundle and the ecosystem as a whole," he wrote.
ESPN has been cutting costs since last quarter--most recently suspending its popular Grantland (http://www.marketwatch.com/story/espn-ends-grantland-internet-calls-it-the-worst-decision-ever-2015-10-30) publication and laying off nearly 300 employees (http://www.marketwatch.com/story/espn-to-lay-off-about-300-employees-2015-10-21-111034330), about 4% of its workforce.
The Disney film arm has pulled in $1.49 billion at the box office so far this year, enough for the No. 2 spot among the top earning film studios. Disney is betting large on "Star Wars: The Force Awakens," set to debut Dec. 18.
"We recommend owning Disney shares into year-end, as we believe a strong quarter, the launch of 'Star Wars,' and benign expense growth at ESPN are all investment positives," DiClemente wrote.
-Trey Williams; 415-439-6400; AskNewswires@dowjones.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
(END) Dow Jones Newswires
11-03-15 1543ET
Copyright (c) 2015 Dow Jones & Company, Inc.
sheesh! you're down today
Damn...look at MBLY go
So did V
I have AMBA on my watchlist but it's had a $60 or so drop since late July!
I just sold 5 of the DIS calls for .97
Kept one
500% return is nice
Looks like the earnings were pretty good
hahahaha! good one
$SPX back over 2100 since the August sell off...now what?
A long time ago the creator of this board asked our guesses of what the $SPX high would be for 2015...if I recall correctly my guess was 2202
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=111020389
LOL...that's an oxymoron
50 calls at .71 recently for example
Compared to previous days the volume on my DIS $125 calls for Dec 18 is huge today...not sure if the buys and sells are accurately depicted on the level two with E*Trade but there were some pretty big blocks bought today
It worked out but to use "gambling" terms...I left some money on the table
Just sold the MBLY calls for $1.65....had a limit order on them and it got bulldozed!
Could Erickson Inc Decline After Today’s Huge Increase?
http://www.financialmagazin.com/could-erickson-inc-decline-after-todays-huge-increase/
I forgot to tell you I sold the AAPL calls yesterday for a nice profit. They bounced higher today only for a minute or two but after the days trading it seems I made the right choice to sell yesterday.
Today I bought two MBLY $47 Nov 6 calls for $1.00
Already green and depending on how they report I may buy further out expirations...lots of room to climb on MBLY.
Would DIS and NFLX be a good match? Is there a scenario whereby DIS buys NFLX in this lifetime?