MUMBAI: Lionsgate has reported a first-quarter loss of $64.1 million compared to the net income of $36.3 million it had recorded in the same period last year.

It is said that reduced theatrical slate coupled with increased marketing costs for titles brought down the company‘s entertainment revenue by 22 per cent to $117.1 million, from $151 million a year ago. Overall studio revenues declined by 16 per cent to $326.6 million, from $388 million.

Said Lionsgate co-chairman and CEO Jon Feltheimer in a statement, "Our first quarter was affected by marketing costs for three of our wide releases, timing of television deliveries and the underperformance of our theatrical release Killers."

The action-comedy, made on a budget of $ 75 million, generated less than $47 million domestically and $75.5 million globally at the box office.

The loss and missed earnings comes at a time when Lionsgate remains under siege from investor Carl Icahn who is making a hostile bid to takeover the board and company.