Increased home entertainment sales, library and TV production revenue helped Vancouver's Lions Gate Entertainment Inc. (NYSE:LGF) post record revenue in fiscal 2009.
The company's revenue rose to US$1.47 billion for the year ending March 31 compared with US$1.36 billion in fiscal 2008.
Motion picture revenue rose 7% to a record US$1.23 billion from US$1.15 billion as home entertainment, theatrical and TV revenue were all stronger.
Revenue from Lions Gate's home entertainment division hit US$675.6 million, a 5% increase that reflected strong DVD sales of movies like Saw V, the Forbidden Kingdom, Punisher: War Zone, Transporter 3 and Bangkok Dangerous.
Driven by record fourth-quarter box office results from movies like Tyler Perry's Madea Goes to Jail, My Bloody Valentine 3D and the Haunting in Connecticut, theatre revenue rose to US$223.3 million from US$191.7 million.
Television revenue jumped 47% to US$170.3 million from US$115.5 million, reflecting strong pay television sales of such films as 3:10 To Yuma, Forbidden Kingdom, Good Luck Chuck, Rambo and Saw IV.
However, the company's net loss for the year rose to US$163 million from US$74 million. The increased loss was due to the underperformance of its theatrical releases in the second and third quarters of the year and a $36.1 million charge on the company's North American DVD distribution of HIT Entertainment's family entertainment titles.
Lions Gate's share price range during the past week: between US$9.83 and US$9.96; 52-week high: US$10.97; 52-week low: US$3.65.