That’s good timing: Lionsgate’s sale of Maple Pictures to Alliance Films helped the mini-studio on Wednesday narrow its second quarter loss, despite a steep fall in overall revenue on theatrical film losses.

The Vancouver-based company earlier warned investors of possible Q2 losses between $40 million and $50 million after Conan the Barbarian, Abduction and Warrior failed to gain traction at the local multiplex.

At the same time, Lionsgate recorded an $11 million gain from its sale of Maple Pictures, which releases its movies in Canada via a supply deal, and is now part of Alliance Films.

And that helped the Canadian producer beat estimates and post a loss of $24.6 million for the quarter to Sept. 30, compared to a loss of $29.7 million in the same quarter last year.

The Q2 loss follows profits in the previous two quarters.

Lionsgate’s overall revenue fell 21% to $358.1 million.

“Although we were disappointed by the performance of our films in the quarter, we were pleased with the strong and growing contributions of all of our other core businesses,” Lionsgate CEO Jon Feltheimer said in a statement ahead of a financial analyst call on Thursday.