Lions Gate Entertainment

On the discussion of Lions Gate Entertainment’s (LGF) first-quarter results, we noted the disappointing statement of cash flows. Unfortunately, the company didn’t do much better in the second quarter. For the six-month period, Lions Gate used over $160 million for operations compared to the roughly $40 million used in the similar frame one year ago.

Of course, cash flow doesn’t always get the most coverage. Investors tend to get more excited by a swing to profitability. On that count, Lions Gate scored admirably, earning 26 cents per diluted share versus losing 44 cents per diluted share twelve months prior. Earnings.com indicates that analysts were really underestimating the Q2 income potential here: the call was for 6 cents per share.

This is why shares of the studio were rewarded with a bid in yesterday’s after-hours market. At the time writing, Lions Gate was up over 7%.

We can’t say they were as pleased with the data as the traders seemed to be. Besides the issue with cash flow, It’ll point out that a mere 3% increase in sales doesn’t cut it. However, It will concede that Lions Gate has generally done okay with the top line as of late.

Revenues are a tricky thing for a content business to control. Competitors such as Disney (DIS) and General Electric’s (GE) NBC Universal have had their share of problems with underperforming film slates. Also, coming to grips with the declining home video industry has been an ongoing struggle.

People don’t necessarily see a catalyst for Lions Gate that would help it to break out of the trading range it’s been in. For now, people going to stay on the sidelines. Cash flow will probably improve over time, but we’re wait for more information on Lions Gate’s current slate before undergoing additional due diligence (the performance of the latest Saw sequel certainly isn’t going to help the process).

Updates throughout the day.

Updated 10.33 AM EST: Royal Bank of Scotland may have to divest its majority interest in the RBS Sempra Commodities joint venture. (The Deal)

Bank of America (NYSE:BAC) may allow its CEO to be located in NYC and not the company’s headquarters in Charlotte (Bloomberg)

Fiat’s deal with Chrysler may end up helping the Italian company more than it does the American one. (Forbes)

Several states hard hit by the real estate downturn are considering suing large mortgage lenders.  (NYTimes)

GM’s board may decide the fate of Opel today.  (AP)

The New York State Pension Fund will put $1 billion into hedge funds  (Crain’s NY)

Studio Summit Entertainment may be a buy-out target for a larger studio like Lions Gate  (NYSE:LGF)  (LATimes)

China Unicom (NYSE:CHU) has only sold 5,000 Apple (NASDAQ:AAPL) iPhones. (Reuters)

Douglas A. McIntyre

Update: More humor from Jumping in Pools in response to a Lizard attack on an autistic young man.  Stay classy, Cato and Co.

BITE ME! Comics is back.

Anyone paying attention to the ongoing LGF soap opera will appreciate Bite Me Comics.  If you’re not, consider yourself fortunate.

Diesel’s book “Mercury Falls” is out on amazon. He’s  a funny guy who helped me get my blogging mojo. (More info here.)

The man who saved billions from starvation who you’ve probably never heard of: Norman Borlaug (1914-2009). Related video here (includes some unnessesary foul language from Penn Gillette).

Turning Number 1. I’ve got no clue what this is all about, but it’s yet more propaganda showing that the guy is always the idiot.

Little kids and the marshmallow torture.

Charlie Rose interviews himself and Steve is not happy. [Found here.]

Just click it. Do it. [Tip o' the tarboosh to Bordm.]

Another TED video by someone I’ve never heard of talks about perceived value.

How not to get killed or maimed on the golf course (tip from Ken A.).

This page is under construction (via The Presurfer).

Went to see Parrworld at Baltic yesterday totally expecting to hate it. Surprise! It’s fantastic. Best exhibition I’ve seen there since Domain Field.
Then went clothes shopping with Lovely Girlfriend totally expecting to hate it. Surprise! LGF brings out my inner Gok Wan.
Later, I’m sat in LGF’s kitchen and she says, “Have a look at this, I’ve had it for years and don’t know how to work it.” Then she reaches into a cabinet and pulls out an absolutely mint OM-1n.
Perfect day. Worth every one of the 100 minutes it took me to get home from her house to mine.

I’d heard he was going into full Jihad mode against dissent over at LGF, but … wow. I posted a single comment expressing doubt the shocking-ness of the list of Limbaugh quote he snaked from “Media Matters”. (Posted – Sun, Oct 18, 2009 6:05:16pm ) and my old comment account from long ago was turned off (Timestamp – Sun, Oct 18, 2009 6:08:20pm).

Wow.

I can kinda see why some folks were annoyed enough to start the “other” Little Green Footballs.

Too funny and devastating not to pass along.

Bite Me! Comics Presents….

Chuck Johnson – Race Detective vol. I. – featuring a smattering of your favorite LGF race detectives in training.

Grab a cup of coffee and enjoy the rest of this pure comedy gold.

Several sources are reporting this.

If Limbaugh has indeed been dropped from the group then his potential slander/libel suits will be bolstered by his loss of potential income.  Based on his comments during today’s show, Rush is showing no signs of backing away from legal action against those who published the false quotes and the networks where they were repeated.

Meanwhile, Rick “Hit and Run” Sanchez and Charles “Hit The Tip Jar” Johnson are still waiting for Rush to prove he didn’t make the statements.

Update: It’s official:

DAVE CHECKETTS: It has become clear that his involvement in our group has become a complication and a distraction to our intentions; endangering our bid to keep the team in St. Louis. As such, we have decided to move forward without him and hope it will eventually lead us to a successful conclusion.

No statement from Rush as of the time of this update.

I was never a huge fan of Charles Johnson and Little Green Footballs.  Every now and again, he’d come up with an interesting link or a perceptive take on the day’s events.  I knew the guy was basically on the right-ahem, conservative-side.  However,  just because somebody’s politics roughly line up with mine doesn’t mean I have to like that person.  In the case of CJ and his site, I was pretty sure homeboy was a humorless hammerhead, so I tended to keep him at an arm’s length.

Some time in 2008,  Chewy Chuck lost his shit and has since done his best Andrew Sullivan impersonation.  Slamming former ideological team mates, pounding Christian conservatives, angrily criticizing  everyone in the conservative movement not named Charles Johnson…you name it, and LGF has done it.

So Tim Blair, a great blogger out of Australia, decides to compare CJ’s old posts to the new and improved LGF circa 2009.  Blair found that-shock of shocks-Johnson has in fact done a 180 from his old self.

Let’s play a game called “How did Charles Johnson React to Tim Blair?”  If you thought Charles Johnson ignored this little poke, you’d be wrong.  Did you think he responded with a measured non-catty response?  Guess again.  Maybe Charles Johnson admitted his errors?  Nope. 

No, CJ did none of those things.  In fact, Charles Johnson had Tim Blair banned from his website.

I know Johnson thinks this is a brilliant move.  Like he’s really pwned Tim Blair by banning him.  I think CJ’s right.  Banning a blogger from looking at his precious website totally doesn’t make Charles Johnson a pussy-ass douchedrinker who breaks out into steaming rivers of ball-sweat at the mere thought of dissenting opinion.  Nope.  No siree.  Not a bit.