United states securities and exchange commission



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F-3


Table of Contents


LIONS GATE ENTERTAINMENT CORP.

CONSOLIDATED STATEMENTS OF OPERATIONS

 









































 

Year Ended

 

Year Ended

 

Year Ended

 

March 31,
2012


 

March 31,
2011


 

March 31,
2010


 

 

 

As adjusted

(Note 7)

 

As adjusted

(Note 7)

 

(Amounts in thousands, except per share amounts)

Revenues

$

1,587,579




 

$

1,582,720




 

$

1,489,506




Expenses:

 

 

 

 

 

Direct operating

908,402




 

795,746




 

777,969




Distribution and marketing

483,513




 

547,226




 

506,141




General and administration

168,864




 

171,407




 

143,060




Gain on sale of asset disposal group

(10,967

)

 






 






Depreciation and amortization

4,276




 

5,811




 

12,455




Total expenses

1,554,088




 

1,520,190




 

1,439,625




Operating income

33,491




 

62,530




 

49,881




Other expenses (income):

 

 

 

 

 

Interest expense

 

 

 

 

 

Contractual cash based interest

62,430




 

38,879




 

27,461




Amortization of debt discount (premium) and deferred financing costs

15,681




 

16,301




 

19,701




Total interest expense

78,111




 

55,180




 

47,162




Interest and other income

(2,752

)

 

(1,742

)

 

(1,547

)

Loss (gain) on extinguishment of debt

967




 

14,505




 

(5,675

)

Total other expenses, net

76,326




 

67,943




 

39,940




Income (loss) before equity interests and income taxes

(42,835

)

 

(5,413

)

 

9,941




Equity interests income (loss)

8,412




 

(20,712

)

 

(38,995

)

Loss before income taxes

(34,423

)

 

(26,125

)

 

(29,054

)

Income tax provision

4,695




 

4,256




 

1,218




Net loss

$

(39,118

)

 

$

(30,381

)

 

$

(30,272

)

Basic Net Loss Per Common Share

$

(0.30

)

 

$

(0.23

)

 

$

(0.26

)

Diluted Net Loss Per Common Share

$

(0.30

)

 

$

(0.23

)

 

$

(0.26

)

Weighted average number of common shares outstanding:

 

 

 

 

 

Basic

132,226




 

131,176




 

117,510




Diluted

132,226




 

131,176




 

117,510




See accompanying notes.
F-4


LIONS GATE ENTERTAINMENT CORP.

CONSOLIDATED STATEMENTS OF SHAREHOLDERS’ EQUITY































































































 

Common Shares

 

Accumulated

Deficit

 

Accumulated

 Other



Comprehensive

Income (Loss)

 

Treasury Shares

 

Comprehensive

Loss

 

 

 

Number

 

Amount

 




 




 

Number

 

Amount

 




 

Total

 

(Amounts in thousands, except share amounts)

Balance at March 31, 2009, as previously reported

116,950,512




 

$

494,724




 

$

(441,153

)

 

$

(11,878

)

 






 

$






 

 

 

$

41,693




Impact of retrospective application of EPIX reporting lag elimination (see Note 7)

 

 

 

 

(1,115

)

 

 

 

 

 

 

 

 

 

(1,115

)

Balance at March 31, 2009, as adjusted

116,950,512




 

494,724




 

(442,268

)

 

(11,878

)

 






 






 

 

 

40,578




Stock based compensation, net of withholding tax obligations of $2,030

900,577




 

15,444




 

 

 

 

 

 

 

 

 

 

 

15,444




Issuance of common shares to directors for services

100,665




 

573




 

 

 

 

 

 

 

 

 

 

 

573




Sale of TV Guide Network common stock units to noncontrolling interest

 

 

(167

)

 

 

 

 

 

 

 

 

 

 

 

(167

)

April 2009 Exchange Transaction — equity component of April 2009 3.625% Notes issued, net of $1,324 reduction for February 2005 3.625% Notes extinguished

 

 

14,761




 

 

 

 

 

 

 

 

 

 

 

14,761




December 2009 Repurchase — reduction of equity component of October 2004 2.9375% Notes and February 2005 3.625% Notes extinguished

 

 

(4,171

)

 

 

 

 

 

 

 

 

 

 

 

(4,171

)

Comprehensive loss

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net loss

 

 

 

 

(30,272

)

 

 

 

 

 

 

 

$

(30,272

)

 

(30,272

)

Foreign currency translation adjustments

 

 

 

 

 

 

4,849




 

 

 

 

 

4,849




 

4,849




Net unrealized gain on foreign exchange contracts

 

 

 

 

 

 

418




 

 

 

 

 

418




 

418




Comprehensive loss

 

 

 

 

 

 

 

 

 

 

 

 

$

(25,005

)

 

 

Balance at March 31, 2010, as adjusted

117,951,754




 

521,164




 

(472,540

)

 

(6,611

)

 






 






 

 

 

42,013




Stock based compensation, net of withholding tax obligations of $13,476

2,539,603




 

15,202




 

 

 

 

 

 

 

 

 

 

 

15,202




Issuance of common shares to directors for services

111,783




 

811




 

 

 

 

 

 

 

 

 

 

 

811




Conversion of $63,709 (principal) of October 2004 2.9375% Notes (see Note 9)

10,355,299




 

67,620




 

 

 

 

 

 

 

 

 

 

 

67,620




Conversion of $36,009 (principal) of February 2005 3.625% Notes (see Note 9)

5,881,006




 

38,403




 

 

 

 

 

 

 

 

 

 

 

38,403




Comprehensive loss

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net loss

 

 

 

 

(30,381

)

 

 

 

 

 

 

 

$

(30,381

)

 

(30,381

)

Foreign currency translation adjustments

 

 

 

 

 

 

5,756




 

 

 

 

 

5,756




 

5,756




Net unrealized loss on foreign exchange contracts

 

 

 

 

 

 

(569

)

 

 

 

 

 

(569

)

 

(569

)

Comprehensive loss

 

 

 

 

 

 

 

 

 

 

 

 

$

(25,194

)

 

 

Balance at March 31, 2011, as adjusted

136,839,445




 

643,200




 

(502,921

)

 

(1,424

)

 






 






 

 

 

138,855




Exercise of stock options

403,332




 

3,520




 

 

 

 

 

 

 

 

 

 

 

3,520




Stock based compensation, net of withholding tax obligations of $4,320

821,929




 

5,167




 

 

 

 

 

 

 

 

 

 

 

5,167




Issuance of common shares to directors for services

78,267




 

531




 

 

 

 

 

 

 

 

 

 

 

531




Issuance of common shares related to the Summit acquisition

5,837,781




 

50,205




 

 

 

 

 

 

 

 

 

 

 

50,205




May 2011 Repurchase - reduction of equity component of October 2004 2.9375% Notes extinguished

 

 

(125

)

 

 

 

 

 

 

 

 

 

 

 

(125

)

Equity component of January 2012 4.00% Notes

 

 

10,125




 

 

 

 

 

 

 

 

 

 

 

10,125




Repurchase of common shares, no par value

 

 

 

 

 

 

 

 

11,040,493




 

(77,088

)

 

 

 

(77,088

)

Comprehensive loss

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net loss

 

 

 

 

(39,118

)

 

 

 

 

 

 

 

$

(39,118

)

 

(39,118

)

Foreign currency translation adjustments

 

 

 

 

 

 

(2,249

)

 

 

 

 

 

(2,249

)

 

(2,249

)

Net unrealized loss on foreign exchange contracts

 

 

 

 

 

 

(38

)

 

 

 

 

 

(38

)

 

(38

)

Comprehensive loss

 

 

 

 

 

 

 

 

 

 

 

 

$

(41,405

)

 

 

Balance at March 31, 2012

143,980,754




 

$

712,623




 

$

(542,039

)

 

$

(3,711

)

 

11,040,493




 

$

(77,088

)

 

 

 

$

89,785




See accompanying notes.
F-5


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