Free cash flow was huge! Looks solid and no loss. SANTA MONICA, Calif. and VANCOUVER, British Columbia, Nov. 8, 2013 /PRNewswire/ -- Lionsgate (NYSE: LGF) today reported revenue of $498.7 million, adjusted EBITDA of $56.5 million, net income of $0.5 million or $0.00 basic net income per share, adjusted net income of $25.4 million or $0.19 adjusted basic net income per share and free cash flow of $84.9 million for the second quarter of Fiscal 2014 (fiscal quarter ended September 30, 2013).
The Company continues to strengthen its balance sheet and has reduced total debt over the last 12 months by $277.8 million. Contractual cash-based interest expense in the second quarter was $11.9 million compared to $18.9 million in the prior year quarter.
Free cash flow of $84.9 million in the quarter increased more than fourfold from $18.9 million in the prior year quarter.
Lionsgate's filmed entertainment backlog, or already contracted future revenue not yet recorded, was $1.1 billion at September 30, 2013.
"We completed a strong first six months of the year with a solid second quarter in which we generated robust free cash flow, continued to delever our balance sheet and lowered our interest expense," said Lionsgate Chief Executive Officer Jon Feltheimer. "We're on track for another very good year and, with the worldwide launch of the next installment of our Hunger Games franchise on November 22, the ongoing diversification of our television business and a strong and growing presence on digital platforms, we are positioned to deliver growth for many years to come."