Lions Gate Entertainment Corp. said Monday that disappointing ticket sales for its recent movies "Conan the Barbarian," "Warrior" and "Abduction" will hurt its bottom line.
The studio said it expects to post a loss before interest, taxes, depreciation and amortization of $40 million to $50 million in the quarter through Sept. 30.
Analysts polled by FactSet had expected the company to post positive operating earnings of $52 million.
"Conan" made just $21 million at the U.S. box office despite its estimated $70 million production budget, not including marketing costs, according to IMDb.
"Warrior" has grossed $11 million on an estimated $30 million production budget, and "Abduction," released this past weekend, took in $11 million, although no budget estimate was given, IMDb said.
Lions Gate, a movie and TV studio, made the disclosure in a securities filing regarding the sale of up to 22 million shares held by investor Carl Icahn. The shares are for sale for $7 each.
Shares fell a penny to $6.99 in the regular trading session Monday. The company has its headquarters in Vancouver, British Columbia, but operates from Santa Monica, Calif.
WATCH MOVIE ONLINE CLICK HERE
Genre: Action , Adventure , Fantasy | Length: 112 minutes | Land/Year: USA/2011
Regie: Marcus Nispel | Actors: Jason Momoa, Stephen Lang, Rachel Nichols, Ron Perlman, Rose McGowan, Bob Sapp
Conan the Barbarian uploaded by VAGS MOVIES
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