Revenue rise for Lionsgate as overheads are lowered

Wed Feb 10 2010 18:08

Lionsgate reports it has made efforts to lower its overheads.

A TV and film production company has made note of the efforts it has taken to reduce costs.

Releasing details of its financial performance in the three-month period ending December 31st 2009, Lionsgate reports that revenue rose 15 per cent from the same period in 2008 to stand at $371.8 million (£238.5 million).

While such a rise was partially attributed to new revenue from TV Guide Network and TVGuide.com, those companies looking at how they can use cashflow management software may also want to note Lionsgate cited the steps it has taken to lower its overheads.

The company - which was released films such as Precious and From Paris With Love in recent days - also claims that the majority of its home entertainment revenue came from its filmed entertainment library division.

"We were particularly pleased to achieve record library revenues in a challenging home entertainment environment, a continuation of strong growth in all areas of our television business and significant progress in our channel investments," Lionsgate co-chairman and chief executive officer Jon Feltheimer states.

Among the firm's forthcoming releases are Why Did I Get Married Too?, which is set to appear on US screens on April 2nd.