Vancouver: Lions Gate Entertainment – a Vancouver film company that has appeared to want to run before it could walk – seems to be finding its feet according to its third quarter results announced March 1 and the closure of a $25-million financing March 2.

Revenues for the quarter ended Dec. 31, 1998 were $40 million, with operating margins trending positively over the fiscal year.

Though the company posted an overall loss for the quarter of $600,000 ($0.03 per share), consolidated ebitda tallies were also trending up, with the third quarter at $1.9 million, second quarter at $500,000 and first quarter at $200,000.

‘While we are reporting a consolidated loss for the period, all divisions, other than start-ups [Lions Gate Television and Mandalay Pictures] are showing improved profitability,’ says chairman and ceo Frank Giustra.

For the year-to-date, Lions Gate has posted a loss of $2 million ($0.08 per share) on revenues of $82.4 million.

Through Yorkton Securities, First Marathon Securities and Merrill Lynch Canada, meanwhile, Lions Gate closed a substantial financing by placing 5.44 million common shares at $4.60 per share.

Proceeds of the $25-million financing are earmarked toward the company’s continued expansion.

‘This financing gives Lions Gate the financial resources to implement its aggressive growth strategy, says company president and coo Roman Doroniuk.

Key to that expansion, however, is the acquisition of talent such as Doroniuk, newly poached from the cfo’s office at Alliance.

Other notable industry talent joining the Lions Gate ranks are: Marni Wieshofer, ex-vp finance at Alliance Atlantis, who is now senior vp corporate finance at Lions Gate Entertainment; Noah Segal, most recently with bmg, who is now senior vp Canadian distribution at Lions Gate Films; Bobby Allen, formerly an acquisition executive with Mayfair Entertainment International, who is now head of Lions Gate Film’s u.k. office; and, Kevin Beggs, formerly a Baywatch producer, who is now senior vp of drama at Lions Gate Media.

Lions Gate subsidiary Cine-Groupe Media of Montreal has opened a Toronto office that is casing a move into live action and staffed with former Atlantis exec Derek McGillvray and Prime tv exec Bill Gray.

On March 2, Lions Gate closed at $4.60 on the Toronto Stock Exchange, down five cents.