LIONSGATE REPORTS REVENUE OF $707.0 MILLION, EBITDA OF $104.0 MILLION, ADJUSTED EBITDA OF $109.7 MILLION AND NET INCOME OF $75.5

LIONSGATE REPORTS REVENUE OF $707.0 MILLION, EBITDA OF $104.0 MILLION, 
ADJUSTED EBITDA OF $109.7 MILLION AND NET INCOME OF $75.5 MILLION OR $0.56 PER 
BASIC SHARE IN THE SECOND QUARTER OF FISCAL 2013 
Second Quarter Results Driven By Significant Contributions From Home 
Entertainment Release of THE HUNGER GAMES, Domestic Box Office Performance of 
Film Slate And International Revenue 
Filmed Entertainment Backlog Reaches Record $1.2 Billion 
SANTA MONICA, Calif. and VANCOUVER, British Columbia, Nov. 8, 2012 /CNW/ - 
Lionsgate (NYSE: LGF) today reported revenue of $707.0 million, EBITDA of 
$104.0 million, adjusted EBITDA of $109.7 million  and net income of $75.5 
million or $0.56 per share for the second quarter of Fiscal 2013 (quarter 
ended September 30, 2012). 
(Logo: http://photos.prnewswire.com/prnh/20110919/LA70620LOGO) 
Revenue of $707.0 million in the second quarter increased by 97% compared to 
$358.1 million in the prior year quarter, driven by strong home entertainment 
revenue from the global blockbuster THE HUNGER GAMES in packaged media and on 
demand and digital, domestic theatrical box office revenue from films in the 
quarter that included THE POSSESSION, THE EXPENDABLES 2, STEP UP REVOLUTION 
and MADEA'S WITNESS PROTECTION (released at the end of June), as well as 
strong growth in international revenue. 
EBITDA of $104.0 million and adjusted EBITDA of $109.7 million in the second 
quarter compared to EBITDA of negative $(6.9) million and adjusted EBITDA of 
negative $(13.4) million in the prior year quarter. 
Net income of $75.5 million in the second quarter compared to net loss of 
$(25.3) million in the prior year quarter.  Profitability and EBITDA growth in 
the quarter was largely attributable to the strong theatrical box office and 
home entertainment performance of several of the Company's feature films, 
including the DVD and digital release of the first film in THE HUNGER GAMES 
franchise and the domestic theatrical box office performance of THE 
POSSESSION, as well as strong international results.  The Company also 
reported improved overall margins in the quarter. 
Basic net income per common share for the second quarter was $0.56 on 134.4 
million weighted average common shares outstanding, compared to basic net loss 
per common share of $(0.19) on 133.8 million weighted average common shares 
outstanding in the prior year quarter. 
Lionsgate's filmed entertainment backlog, or already contracted future revenue 
not yet recorded, was a record $1.2 billion at September 30, 2012. 
"The quarter reflected many of the core values that have driven our growth 
over the past 12 years – creation and renewal of major film franchises, 
strong and consistent library performance and contributions from our diverse 
mix of businesses worldwide," said Lionsgate Chief Executive Officer Jon 
Feltheimer.  "With the home entertainment release of the first film in our 
HUNGER GAMES franchise making significant contributions to our results in the 
quarter, we're clearly on track to meet or exceed our expectations this year." 
Overall motion picture revenue for the second quarter was $608.0 million, an 
increase of 178% from the prior year quarter reflecting gains in all 
categories.  Within the motion picture segment, theatrical revenue in the 
quarter was $116.2 million, a fivefold increase from the prior year second 
quarter, attributable to the box office performance of THE POSSESSION, THE 
EXPENDABLES 2, STEP UP REVOLUTION and MADEA'S WITNESS PROTECTION, released in 
June. 
Lionsgate's home entertainment revenue from both motion pictures and 
television was $277.8 million in the second quarter, a 59% increase from the 
prior year quarter driven by the home entertainment releases of THE HUNGER 
GAMES, CABIN IN THE WOODS, WHAT TO EXPECT WHEN YOU'RE EXPECTING, SAFE and 
FRIENDS WITH KIDS from the Company's managed brands business. 
Television revenue included in motion picture revenue was $35.5 million in the 
second quarter, an increase of 26% from the prior year quarter. 
International motion picture revenue of $108.0 million (excluding Lionsgate 
U.K.) for the second quarter increased more than fourfold from the prior year 
quarter driven by continuing revenue from the worldwide theatrical release of 
THE HUNGER GAMES as well as revenue contributions from CABIN IN THE WOODS, 
WHAT TO EXPECT WHEN YOU'RE EXPECTING, STEP UP REVOLUTION and COLD LIGHT OF DAY. 
Lionsgate U.K. revenue was $48.4 million, an increase of 120% from the prior 
year quarter, on the strength of a diversified theatrical slate driven by THE 
HUNGER GAMES, THE EXPENDABLES 2 and ABDUCTION, Lionsgate U.K.'s SALMON FISHING 
IN THE YEMEN and the third-party film MAGIC MIKE. 
Television production revenue was $99.0 million in the second quarter, a 
decline of 29% compared to the prior year quarter, as increases in domestic 
series licensing from Lionsgate Television were offset by fewer deliveries 
from the Company's Debmar-Mercury syndication arm and decreased digital media 
revenue compared to the prior year quarter that included the delivery of the 
first four seasons of MAD MEN to Netflix. 
Lionsgate senior management will hold its analyst and investor conference call 
to discuss its second quarter fiscal 2013 results at 9:00 A.M. ET/6:00 A.M. PT 
on Friday, November 9, 2012. Interested parties may participate live in the 
conference call by calling 1-800-230-1092 (612-234-9960 outside the U.S. and 
Canada).  A full digital replay will be available from Friday morning, 
November 9, through Friday, November 16, by dialing 1-800-475-6701 
(320-365-3844 outside the U.S. and Canada) and using access code 269362. 
ABOUT LIONSGATE: Lionsgate is a leading global entertainment company with a 
strong and diversified presence in motion picture production and distribution, 
television programming and syndication, home entertainment, family 
entertainment, digital distribution, new channel platforms and international 
distribution and sales.  The Company has built a strong television presence in 
production of primetime cable and broadcast network series, distribution and 
syndication of programming and an array of channel assets. Lionsgate currently 
has 25 shows on 18 networks spanning its primetime production, distribution 
and syndication businesses, including the multiple Emmy Award-winning Mad Men, 
the critically acclaimed series Weeds, Nurse Jackie and Boss, the new comedy 
Anger Management, which has been picked up for another 90 episodes by FX, the 
network series Nashville, the syndication successes Tyler Perry's House of 
Payne, its spinoff Meet the Browns, For Better Or Worse, The Wendy Williams 
Show, Are We There Yet? and the upcoming Orange Is The New Black, an original 
series for Netflix. 
Its feature film business has been fueled by such recent successes as the 
blockbuster first installment of The Hunger Games franchise, which has already 
grossed nearly $700 million at the worldwide box office, The Possession, 
Sinister, The Expendables 2, Cabin in the Woods, Tyler Perry's Madea's Witness 
Protection and Arbitrage.  With the January 2012 acquisition of Summit 
Entertainment, the Company has now added the blockbuster Twilight Saga, which 
has grossed more than $2.5 billion at the worldwide box office, to its current 
slate, giving the Company the two premier young adult franchises in the world. 
Recent Summit hits include Red, Letters to Juliet, Knowing and the Academy 
Award-winning Best Picture, The Hurt Locker. 
Lionsgate's home entertainment business is an industry leader in box 
office-to-DVD and box office-to-VOD revenue conversion rate. Lionsgate handles 
a prestigious and prolific library of approximately 15,000 motion picture and 
television titles that is an important source of recurring revenue and serves 
as the foundation for the growth of the Company's core businesses. The 
Lionsgate and Summit brands remain synonymous with original, daring, quality 
entertainment in markets around the world. 
For further information, please contact: Peter D. Wilkes 310-255-3726 
pwilkes@lionsgate.com 
The matters discussed in this press release include forward-looking 
statements, including those regarding the performance of future fiscal years.  
Such statements are subject to a number of risks and uncertainties. Actual 
results in the future could differ materially and adversely from those 
described in the forward-looking statements as a result of various important 
factors, including the substantial investment of capital required to produce 
and market films and television series, increased costs for producing and 
marketing feature films and television series, budget overruns, limitations 
imposed by our credit facilities and notes, unpredictability of the commercial 
success of our motion pictures and television programming, the cost of 
defending our intellectual property, difficulties in integrating acquired 
businesses, risks related to our acquisition strategy and integration of 
acquired businesses, the effects of disposition of businesses or assets, 
technological changes and other trends affecting the entertainment industry, 
and the risk factors as set forth in Lionsgate's Annual Report on Form 10-K, 
filed with the Securities and Exchange Commission (the "SEC") on May 30, 
2012,as amended, which risk factors are incorporated herein by reference.  The 
Company undertakes no obligation to publicly release the result of any 
revisions to these forward-looking statements that may be made to reflect any 
future events or circumstances. 
LIONS GATE ENTERTAINMENT CORP. 
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS 


                                              September    March 31,
                                              30,
                                              2012         2012
                                              (Amounts in thousands,
                                              except share amounts)

ASSETS

Cash and cash                                 $ 54,399     $ 64,298
equivalents

Restricted cash                               6,634        11,936

Accounts receivable, net of reserve for
returns and allowances of $114,861 (March 31, 701,354      784,530
2012 - $93,860) and provision for doubtful
accounts of $3,849 (March 31, 2012 - $4,551)

Investment in films and television programs,  1,350,672    1,329,053
net

Property and equipment, net                   8,728        9,772

Equity method                                 172,606      171,262
investments

Goodwill                                      326,004      326,633

Other assets                                  89,966       90,511

 Total assets                                 $ 2,710,363  $ 2,787,995



LIABILITIES

Senior revolving credit                       $ 268,724    $ 99,750
facility

Senior secured second-priority                431,881      431,510
notes

Term loan                                     294,929      477,514

Accounts payable and accrued                  367,921      371,092
liabilities

Participations and                            418,547      420,325
residuals

Film obligations and production               437,579      561,150
loans

Convertible senior subordinated notes and     83,704       108,276
other financing obligations

Deferred revenue                              260,863      228,593

 Total liabilities                            2,564,148    2,698,210



Commitments and contingencies
                                SHAREHOLDERS'
                                EQUITY



Common shares, no par value, 500,000,000
shares authorized, 145,785,044 and            736,663      712,623
143,980,754 shares issued at September 30,
2012 and March 31, 2012, respectively

Accumulated deficit                           (510,710)    (542,039)

Accumulated other comprehensive               (2,650)      (3,711)
loss
                                              223,303      166,873

Treasury shares, no par value, 11,040,493
shares at September 30, 2012 and March 31,    (77,088)     (77,088)
2012

Total shareholders'                           146,215      89,785
equity

 Total liabilities and shareholders' equity   $ 2,710,363  $ 2,787,995

LIONS GATE ENTERTAINMENT CORP.

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
                Three Months  Three Months  Six Months   Six Months
                Ended         Ended         Ended        Ended
                September     September     September    September 30,
                30,           30,           30,
                2012          2011          2012         2011
                              As adjusted                As adjusted
                              (1)                        (1)
                (Amounts in thousands, except per share amounts)
    Revenues        $ 706,968     $ 358,081     $ 1,178,788  $ 619,340

Expenses:

 Direct         323,230       206,344       569,048      345,702
 operating

 Distribution   236,442       141,642       415,151      206,388
 and marketing

 General and    44,030        29,428        96,374       57,350
 administration

 Gain on sale
 of asset       -             (10,967)      -            (10,967)
 disposal group

 Depreciation
 and            2,115         681           4,220        1,915
 amortization

  Total         605,817       367,128       1,084,793    600,388
  expenses

Operating       101,151       (9,047)       93,995       18,952
income (loss)

Other expenses
(income):

 Interest
 expense

  Contractual
  cash based    18,908        14,160        41,636       25,875
  interest

  Amortization
  of debt
  discount
  (premium) and 4,377         3,409         9,139        8,029
  deferred
  financing
  costs


Total 
interest     23,285        17,569        50,775       33,904 
expense 
 Interest and   (1,029)       (928)         (1,979)      (1,370)
 other income 
 Loss on
 extinguishment 1,000         436           9,159        967
 of debt 
Total other   23,256        17,077        57,955       33,501
  expenses, net 
Income (loss)
before equity   77,895        (26,124)      36,040       (14,549)
interests and
income taxes 
Equity
interests       1,755         1,889         1,610        1,849
income 
Income (loss)
before income   79,650        (24,235)      37,650       (12,700)
taxes 
Income tax      4,121         1,071         6,321        2,272
provision 
Net income      $ 75,529      $ (25,306)    $ 31,329     $ (14,972)
(loss) 
Basic Net
Income (Loss)   $ 0.56        $ (0.19)      $ 0.23       $ (0.11)
Per Common
Share 
Diluted Net
Income (Loss)   $ 0.53        $ (0.19)      $ 0.23       $ (0.11)
Per Common
Share 
Weighted
average number
of common
shares
outstanding: 
 Basic          134,390       133,755       133,815      135,374 
 Diluted        148,696       133,755       134,610      135,374 


    In the quarter ended March 31, 2012, the Company eliminated the lag
    in recording its share of EPIX's results. Due to the elimination of


the lag in recording the Company's share of EPIX's results, prior
(1) period amounts presented have been adjusted to eliminate the lag in 


    reporting. The elimination of the lag in reporting of EPIX
    increased net loss for the three and six months ended September 30,
    2011 by $0.7 million and $2.7 million, respectively.

LIONS GATE ENTERTAINMENT CORP.

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
                       Three      Three        Six Months  Six Months
                       Months     Months
                       Ended      Ended        Ended       Ended
                       September  September    September   September
                       30,        30,          30,         30,
                       2012       2011         2012        2011
                                  As adjusted              As adjusted
                                  (1)                      (1)
                       (Amounts in thousands)

Net income             $ 75,529   $ (25,306)   $ 31,329    $ (14,972)
(loss)

Foreign
currency               2,999      (4,433)      1,078       (4,359)
translation
adjustments

Net unrealized gain on
foreign exchange       (512)      626          (17)        662
contracts

Comprehensive          $ 78,016   $ (29,113)   $ 32,390    $ (18,669)
income (loss)

(1) See footnote on Unaudited Condensed Consolidated Statements of
    Operations table

LIONS GATE ENTERTAINMENT CORP.

UNAUDITED CONDENSED ANNUAL CONSOLIDATED STATEMENTS OF CASH FLOWS
                             Three      Three      Six        Six
                             Months     Months     Months     Months
                             Ended      Ended      Ended      Ended
                             September  September  September  September
                             30,        30,        30,        30,
                             2012       2011       2012       2011
                                        As                    As
                                        adjusted              adjusted
                                        (1)                   (1)
                             (Amounts in thousands)

Operating
Activities:

Net income                   $ 75,529   $          $ 31,329   $
(loss)                                  (25,306)              (14,972)

Adjustments to reconcile net
income (loss) to

net cash provided by (used
in) operating activities:

 Depreciation of property    767        611        1,525      1,765
 and equipment

 Amortization of intangible  1,348      70         2,695      150
 assets

 Amortization of films and   227,567    134,231    394,664    219,214
 television programs

 Amortization of debt
 discount (premium) and      4,377      3,409      9,139      8,029
 deferred financing costs

 Non-cash stock-based        4,744      2,541      10,917     4,802
 compensation

 Gain on sale of asset       -          (10,967)   -          (10,967)
 disposal group

 Loss on extinguishment of   1,000      436        9,159      967
 debt

 Equity interests            (1,755)    (1,889)    (1,610)    (1,849)
 income

Changes in operating assets
and liabilities:

 Restricted cash             2,346      316        5,302      23,996

 Accounts                    (112,108)  (109,764)  84,026     (23,381)
 receivable, net

 Investment in films and     (262,115)  (231,608)  (423,120)  (433,384)
 television programs

 Other                       (928)      (761)      (1,544)    1,522
 assets

 Accounts payable and        46,342     96,887     2,149      15,425
 accrued liabilities

 Participations and          11,891     17,493     (1,015)    12,331
 residuals

 Film obligations            6,413      8,738      (13,820)   10,998

 Deferred revenue            (14,298)   19,460     32,339     44,792

Net Cash Flows Provided By
(Used In) Operating          (8,880)    (96,103)   142,135    (140,562)
Activities

Investing
Activities:

Proceeds from the sale of
asset disposal group, net of -          9,119      -          9,119
transaction costs and cash
disposed of $3,943

Investment in equity method  -          (353)      -          (828)
investees

Increase in loans            -          -          -          (1,500)
receivable

Repayment of loans           4,274      -          4,274      -
receivable

Purchases of property and    (590)      (842)      (976)      (1,253)
equipment

Net Cash Flows Provided By   3,684      7,924      3,298      5,538
Investing Activities

Financing
Activities:

Exercise of stock            -          -          52         -
options

Tax withholding requirements (1,260)    (1,014)    (4,005)    (1,932)
on equity awards

Repurchase of                -          (77,088)   -          (77,088)
common shares

Borrowings under senior      406,724    58,250     681,424    153,650
revolving credit facility

Repayments of borrowings
under senior revolving       (427,450)  (35,250)   (512,450)  (200,400)
credit facility

Deferred financing costs
associated with the amended  (15,198)   -          (15,198)   -
and restated senior
revolving credit facility

Borrowings under individual  75,037     86,404     108,948    134,870
production loans

Repayment of individual      (18,986)   (44,291)   (182,930)  (122,886)
production loans

Production loan borrowings   839        25,291     3,897      33,002
under film credit facility

Production loan repayments   (28,480)   (651)      (39,055)   (9,187)
under film credit facility

Change in restricted cash
collateral associated with   7,467      (3,043)    -          (3,043)
financing activities

Repayments of borrowings
under Term Loan associated   -          -          (185,504)  -
with the acquisition of
Summit

Proceeds from sale of senior
secured second-priority      -          9,559      -          201,955
notes, net of deferred
financing costs

Repurchase of senior secured -          (9,852)    -          (9,852)
second-priority notes

Repurchase of convertible    (7,639)    -          (7,639)    (19,476)
senior subordinated notes

Repayment of other financing -          -          (3,710)    -
obligations

Net Cash Flows Provided By
(Used In) Financing          (8,946)    8,315      (156,170)  79,613
Activities

Net Change In Cash And Cash  (14,142)   (79,864)   (10,737)   (55,411)
Equivalents

Foreign Exchange Effects on  958        (1,650)    838        (1,482)
Cash

Cash and Cash Equivalents -  67,583     111,040    64,298     86,419
Beginning Of Period

Cash and Cash Equivalents -  $ 54,399   $ 29,526   $ 54,399   $ 29,526
End Of Period

(1) See footnote on Unaudited Condensed Consolidated Statements of
    Operations table

LIONS GATE ENTERTAINMENT CORP.

RECONCILIATION OF NET INCOME (LOSS) TO EBITDA AND EBITDA, AS ADJUSTED
                             Three      Three      Six        Six
                             Months     Months     Months     Months
                             Ended      Ended      Ended      Ended
                             September  September  September  September
                             30,        30,        30,        30,
                             2012       2011       2012       2011
                                        As                    As
                                        adjusted              adjusted
                                        (1)                   (1)
                             (Amounts in thousands)
    Net income (loss)            $ 75,529   $          $ 31,329   $
                                        (25,306)              (14,972)

 Depreciation and            2,115      681        4,220      1,915
 amortization

 Contractual cash based      18,908     14,160     41,636     25,875
 interest

 Noncash interest            4,377      3,409      9,139      8,029
 expense

 Interest and                (1,029)    (928)      (1,979)    (1,370)
 other income

 Income tax                  4,121      1,071      6,321      2,272
 provision

EBITDA                       $ 104,021  $ (6,913)  $ 90,666   $ 21,749


Gain on sale of asset       -          (10,967)   -          (10,967)
 disposal group 
 Loss on extinguishment of   1,000      436        9,159      967
 debt 
 Stock-based compensation    6,899      2,381      16,648     4,987 
 Acquisition related         300        -          2,027      -
 charges 
 Corporate defense charges   -          1,762      -          (2,047)
 (2) 
 Non-risk prints and         (2,516)    (116)      8,305      (491)
 advertising expense 
EBITDA, as                   $ 109,704  $          $ 126,805  $ 14,198
adjusted                                (13,417) 
(1) See footnote on Unaudited Condensed Consolidated Statements of 


    Operations table
    The six months ended September 30, 2011 includes a benefit for


charges associated with a shareholder activist matter of $2.0
(2) million related to a negotiated settlement with a vendor of costs 
incurred and recorded in fiscal year 2011, and insurance recoveries 


    of related litigation offset by other costs.

EBITDA is defined as earnings before interest, income tax provision, and 
depreciation and amortization.  EBITDA is a non-GAAP financial measure.

EBITDA, as adjusted represents EBITDA as defined above adjusted for a gain on 
sale of asset disposal group, loss on extinguishment of debt, stock-based 
compensation, acquisition related charges, certain corporate defense and 
related charges, and non-risk prints and advertising expense. Stock-based 
compensation represents compensation expenses associated with stock options, 
restricted share units and stock appreciation rights. Acquisition related 
charges represent severance and transaction costs associated with the 
acquisition of Summit. Corporate defense and related charges represent legal 
fees, other professional fees, and certain other costs associated with a 
shareholder activist matter. Non-risk prints and advertising expense 
represents the amount of theatrical marketing expense for third party titles 
that the Company funded and expensed for which a third party provides a 
guarantee that such expense will be recouped from the performance of the film 
(i.e. there is no risk of loss to the company) net of an amount of the 
estimated amortization of participation expense that would have been recorded 
if such amount had not been expensed.

Management believes EBITDA and EBITDA, as adjusted to be a meaningful 
indicator of our performance that provides useful information to investors 
regarding our financial condition and results of operations. Presentation of 
EBITDA and EBITDA, as adjusted is a non-GAAP financial measure commonly used 
in the entertainment industry and by financial analysts and others who follow 
the industry to measure operating performance. While management considers 
EBITDA and EBITDA, as adjusted to be an important measure of comparative 
operating performance, it should be considered in addition to, but not as a 
substitute for, net income and other measures of financial performance 
reported in accordance with Generally Accepted Accounting Principles. EBITDA 
and EBITDA, as adjusted do not reflect cash available to fund cash 
requirements. Not all companies calculate EBITDA or EBITDA, as adjusted in the 
same manner and the measure as presented may not be comparable to 
similarly-titled measures presented by other companies.

LIONS GATE ENTERTAINMENT CORP.

RECONCILIATION OF FREE CASH FLOW TO NET CASH

FLOWS PROVIDED BY (USED IN) OPERATING ACTIVITIES
                          Three      Three       Six Months  Six Months
                          Months     Months
                          Ended      Ended       Ended       Ended
                          September  September   September   September
                          30,        30,         30,         30,
                          2012       2011        2012        2011
                          (Amounts in thousands)



Net Cash Flows Provided                                      $
By (Used In) Operating    $ (8,880)  $ (96,103)  $ 142,135   (140,562)
Activities

 Purchases of
 property and             (590)      (842)       (976)       (1,253)
 equipment

 Net borrowings under
 and (repayment) of       28,410     66,753      (109,140)   35,799
 production loans

Free Cash                                                    $
Flow, as                  $ 18,940   $ (30,192)  $ 32,019    (106,016)
defined

Free cash flow is defined as net cash flows provided by (used in) operating 
activities, less purchases of property and equipment, plus or minus the net 
increase or decrease in production loans including production loan activity 
under the Company's Film Credit Facility. The adjustment for the production 
loans is made because the GAAP based cash flows from operations reflects a 
non-cash reduction of cash flows for the cost of films associated with 
production loans prior to the time the Company actually pays for the film. The 
Company believes that it is more meaningful to reflect the impact of the 
payment for these films in its free cash flow when the payments are actually 
made.

Free cash flow is a non-GAAP financial measure as defined in Regulation G 
promulgated by the Securities and Exchange Commission. This non-GAAP financial 
measure is in addition to, not a substitute for, or superior to, measures of 
financial performance prepared in accordance with Generally Accepted 
Accounting Principles.

Management believes this non-GAAP measure provides useful information to 
investors regarding cash that our operating businesses generate whether 
classified as operating or financing activity (related to the production of 
our films) within our GAAP based statement of cash flows, before taking into 
account cash movements that are non-operational. Free cash flow is a non-GAAP 
financial measure commonly used in the entertainment industry and by financial 
analysts and others who follow the industry. Not all companies calculate free 
cash flow in the same manner and the measure as presented may not be 
comparable to similarly titled measures presented by other companies.

LIONS GATE ENTERTAINMENT CORP.

RECONCILIATION OF EBITDA TO FREE CASH FLOW
                   Three        Three Months  Six Months   Six Months
                   Months
                   Ended        Ended         Ended        Ended
                   September    September     September    September
                   30,          30,           30,          30,
                   2012         2011          2012         2011
                                As adjusted                As adjusted
                                (1)                        (1)
                   (Amounts in thousands)



EBITDA             $ 104,021    $ (6,913)     $ 90,666     $ 21,749


Plus:
 Amortization of
 film and          227,567      134,231       394,664      219,214
 television
 programs 
 Less: Cash paid
 for film and      (227,292)    (156,117)     (546,080)    (386,587)
 television
 programs (1) 
 Amortization of
 film and
 television        275          (21,886)      (151,416)    (167,373)
 programs in
 excess of cash
 paid 
Plus: Non-cash
 stock-based       4,744        2,541         10,917       4,802
 compensation 
 Less: Gain on
 sale of asset     -            (10,967)      -            (10,967)
 disposal group 
 Plus: Equity      (1,755)      (1,889)       (1,610)      (1,849)
 interests loss 
 Plus: Loss on
 extinguishment of 1,000        436           9,159        967
 debt 
EBITDA adjusted
for net investment
in film and
television
programs, non-cash
stock-based        108,285      (38,678)      (42,284)     (152,671)
compensation,
equity interests
loss, and loss on
extinguishment of
debt 
Changes in other
operating assets
and liabilities: 
 Restricted cash   2,346        316           5,302        23,996 
 Accounts          (112,108)    (109,764)     84,026       (23,381)
 receivable, net 
 Other assets      (928)        (761)         (1,544)      1,522 
 Accounts payable
 and accrued       46,342       96,887        2,149        15,425
 liabilities 
 Participations    11,891       17,493        (1,015)      12,331
 and residuals 
 Deferred revenue  (14,298)     19,460        32,339       44,792 
               (66,755)     23,631        121,257      74,685 
Purchases of
 property and      (590)        (842)         (976)        (1,253)
 equipment 
 Interest, taxes   (22,000)     (14,303)      (45,978)     (26,777)
 and other (2) 
Free Cash Flow, as $ 18,940     $ (30,192)    $ 32,019     $ (106,016)
defined 
(1) Cash paid for
film and
television
programs is
calculated using
the following
amounts as
presented in our
consolidated
statement of cash
flows: 
Change in
 investment in
 film and          $ (262,115)  $ (231,608)   $ (423,120)  $ (433,384)
 television
 programs 
 Change in film    6,413        8,738         (13,820)     10,998
 obligations 
 Borrowings under
 individual        75,037       86,404        108,948      134,870
 production loans 
 Repayment of
 individual        (18,986)     (44,291)      (182,930)    (122,886)
 production loans 
 Production loan
 borrowings under  839          25,291        3,897        33,002
 film credit
 facility 
 Production loan
 repayments under  (28,480)     (651)         (39,055)     (9,187)
 film credit
 facility 
Total cash paid
  for film and     $ (227,292)  $ (156,117)   $ (546,080)  $ (386,587)
  television
  programs 
(2) Interest,
taxes and other
consists of the
following: 
Contractual cash  $ (18,908)   $ (14,160)    $ (41,636)   $ (25,875)
 based interest 
 Interest and      1,029        928           1,979        1,370
 other income 
 Income tax        (4,121)      (1,071)       (6,321)      (2,272)
 provision 
Total interest,  $ (22,000)   $ (14,303)    $ (45,978)   $ (26,777)
  taxes and other 
(1) See footnote on Unaudited Condensed Consolidated Statements of 
Operations table 
This reconciliation is provided to illustrate the difference between our 
EBITDA and free cash flow which are both separately reconciled to their 
corresponding GAAP metrics. 
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SOURCE: Lionsgate 
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-0- Nov/08/2012 21:08 GMT
 
 
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