Lionsgate returns to Q3 profit on Breaking Dawn revenue

A 130% increase in revenue follows the acquisition last year of Summit Entertainment by the Vancouver-based indie studio.
money

Lionsgate returned to a third quarter profit Monday, powered by box office from the theatrical release of The Twilight Saga: Breaking Dawn Part 2.

Ahead of the last Twilight franchise film’s home entertainment release scheduled for March 2, the Vancouver-based mini-studio posted earnings of $37.8 million for the three months to Dec. 31 2012, against a loss of $1.4 million in the same period last year.

Overall revenue jumped 130% to $743.6 million.

Lionsgate, which acquired Summit Entertainment a year ago, said the strong performance of its theatrical and home entertainment slate and international businesses helped offset increased marketing costs for a larger number of theatrical releases.

The Twilight Saga: Breaking Dawn – Part 2 grossed more than $800 million at the worldwide box office.

The indie studio, which also has the lucrative young adult movie  franchise The Hunger Games, had no wide releases in the third quarter of 2012.

On the TV side, production revenue was down 22% to $70.1 million in the third quarter, as international sales of Anger Management, Mad Men and Weeds were offset by revenue declines in domestic series licensing due to timing.

Lionsgate is returning to Canadian TV production with Sea to Sky Entertainment, a joint venture with Thunderbird Films to make global series for Canadian and international broadcasters.