Lions Gate Entertainment has posted net income of $0.5m for the second quarter of 2001 ending Sept 30, 2000. Revenues were $66.5m, net earnings were $2.6m minus a non-cash operating loss of $2.1m in Mandalay Pictures and EBITDA (earnings before interest, taxes, depreciation and amortisation) was $5.3m. The results mark Lions Gate's fifth straight quarter of profitability excluding its equity interest in the losses of Mandalay.
Lions Gate's 45% equity investment in Mandalay - which could soon be reduced to 10% if a deal with Germany's Cine Artists goes through - incurred a net loss of $2.1m including Mandalay's operating losses of $1.6m and $0.5m in amortisation of deferred losses for the quarter. Mandalay's next film, the war epic Enemy At The Gates opens in December, with its thriller The Score set for early next year.
The quarter also saw the completion of the acquisition of Trimark Holdings on Oct 13.