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Blockbuster Quarter From This Firm

The moviemaker does well, and its stock jumps in the after hours.
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Blowout! That is the only way to describe the great quarter Lions Gate (LGF) turned in today after the close. The company reported fiscal second-quarter sales of $231 million, much better than the $190 million the Street was looking for. The 9-cent profit was well ahead of the 1-cent loss that was forecast.

Upside in the quarter was driven by the nationwide releases of "Open Water" and "The Cookout," as well as NBC's season-three DVD release of "Will & Grace." Lions Gate shares are trading about 50 cents higher to $10.72 in after-hours trading.

We will be on the earnings conference call tomorrow morning and will update you should the company make any significant statements regarding guidance. In the meantime, savor this strong quarter; they are hard to come by in this market.

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