'Hunger Games,' 'Twilight' Propel Lionsgate to Huge Growth
Lionsgate posted significant increases in revenue and income in the fourth quarter and the full fiscal year of 2013 thanks in large part to its two key film franchises, "The Hunger Games" and "Twilight," the studio announced on Thursday.
Lionsgate posted adjusted earnings per share of $0.66 for the quarter and $1.41 for the year while generating $785.7 revenue for the quarter and $2.71 billion for the year. Those were all double digit increases, boosting the company's stock price in after hours trading.
"We completed a stellar fiscal 2013 with an outstanding fourth quarter that reflected strong contributions from our young adult franchises as well as the rest of our theatrical slate and our home entertainment and international businesses," Lionsgate CEO Jon Feltheimer said in a statement. "We are performing ahead of plan for all of our metrics, and we're pleased with the financial strength of our diverse portfolio of businesses and our strong and growing momentum building Lionsgate into a next generation global content leader."
The biggest growth at the company came in theatrical, as the performance of films such as "The Twilight Saga: Breaking Dawn – Part 2" and "Warm Bodies" boosted revenue by 156 percent. Home entertainment rose by 41 percent thanks to all "The Hunger Games" and "Twilight" films.