Shares of movie studio Lions Gate Entertainment Inc. fell in after-hours trading Thursday following a quarterly earnings report that showed markedly lower revenue compared with the same quarter a year ago.
For the quarter ended June 30, the company reported revenue of $409 million, down 9 percent from the same period last year. Net income for the quarter was also down, falling 6 percent to $40.7 million (28 cents a share).
But there was good news from the company’s television production business, which saw a 73 percent increase in international television licensing revenue, largely powered by big foreign interest in hit prison dramedy “Orange is the New Black.”
Ducommon Posts Strong Earnings
Carson aerospace manufacturer Ducommun Inc. reported less revenue but more profit than Wall Street had expected, sending shares up 6 percent.
For the quarter ended June 30, the company reported net income of $1.8 million ($0.16 a share), compared with $6.6 million ($0.60 a share) for the same period a year earlier. Analysts had expected a loss of 6 cents a share. The company also reported revenue of $175 million, below analysts’ expectations of $180 million.
The news sent Ducommun shares up 6 percent to $26.12 Thursday. Earnings were announced after markets closed Wednesday.
For reprint and licensing requests for this article, CLICK HERE.
Stories You May Also Be Interested In
- Lions Gate Shares Rise on Film Prospects
- Lions Gate Profit Down, Revenue Up
- Shaky Second Quarter Weakens Defense Contractor
- Studio Earnings Wrap: Lions Gate, Disney
- Aerospace Company Doesn’t Pay for Overbilling
- Pride of Lions
- Lions Gate Reports Profit
- RealD Shares Rise After Earnings Beat Expectations