Bolstered by strong gains in its television production business, new revenue from TV Guide Network and TV Guide.com and reduced theatrical marketing costs, Lionsgate reported revenues of $393.7m and net income of $31.7m for the fiscal 2010 second quarter ended September 30.

The results compare to a $51.8m net loss in the second quarter a year ago. Basic net income per common share was $0.27 on 117.3million weighted average common shares outstanding, compared to basic net loss of $0.44 on 116.9million weighted average common shares outstanding in the prior year’s second quarter.

Theatrical marketing costs in the quarter were $37.6m, a 66% decline from $109.7m in the prior year’s second quarter.

Second quarter revenues were $393.7m, an increase of 3% compared to $380.7m in the prior year’s second quarter, reflecting continued strong growth in television production revenues and new revenue of $27.7m from TV Guide Network and TV Guide.com in the quarter.

For the six months ended September 30, Lionsgate reported revenues of $781.4m, net income $68.1m and adjusted EBITDA of $107.7m.  This compared to revenues of $679.2m, net loss of $48.3m and adjusted EBITDA of negative $18.6m in the prior year’s first six months.

Basic net income per common share for the six months ended September 30 was $0.58 on 117.2million weighted average common shares outstanding compared to basic net loss of $0.41 on 117.6million weighted average common shares outstanding in the prior year’s first six months.  

“We are on track to meet our financial targets for the year, and we believe that the current performance of our businesses, coupled with growing returns we anticipate from our new investments and the ultimate profitability we expect to achieve from next year’s film slate and beyond, positions us for strong financial results in the future,” Lionsgate co-chairman and CEO Jon Feltheimer said.

Overall motion picture revenue for the quarter of $277.1m decreased $35.1m or 11% compared to $312.2m in the prior year’s second quarter. Theatrical revenue was $30.3m, a decrease of 11% compared to the prior year second quarter, as the company released Tyler Perry’s I Can Do Bad All By Myself and Gamer in the quarter, compared to four wide releases in the prior year’s second quarter. 

Lionsgate’s home entertainment revenue from the motion picture segment was $123.4m in the quarter, a decline of 25% from the prior year’s second quarter.  The home entertainment slate in the quarter included such titles as Crank: High Voltage, The Haunting In Connecticut, Horsemen and continued sales of New In Town and Tyler Perry’s Madea Goes To Jail.

The underlying box office of new titles released in the quarter was lower than the underlying box office for the slate of The Forbidden Kingdom, Tyler Perry’s Meet The Browns, The Bank Job and Rambo in the prior year’s second quarter.

International revenues of $27.5m in the second quarter declined 4% from the prior year’s second quarter. The principal revenue contributors in the quarter included My Bloody Valentine 3-Dand Crank 2: High Voltage compared to 3:10 To Yuma, Employee Of The Month, Saw IV and War in the prior year’s second quarter.

Mandate Pictures’ revenue of $25.7m in the second quarter increased 21% from $21.2m in the prior year’s second quarter on a slate of Horsemen, Passengersand Whip It and a number of smaller titles compared to a slate of 30 Days Of Night, Juno and Nick And Norah’s Infinite Playlist in the prior year’s second quarter.