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Lions Gate Entertainment Corp. fell after reporting second-quarter results that missed analysts' estimates due to box-office disappointments including the Vin Diesel action film The Last Witch Hunter.

The shares dropped as much as 13 per cent to $33.36 (U.S.) in extended trading, before paring some of the losses. Lions Gate reported a loss of $28.4-million, or 19 cents a share, excluding some items. Revenue of $476.8-million missed the $484.6-million average of 14 analysts' estimates. Analysts had expected adjusted profit of 6 cents a share.

Some film and TV releases were delayed, and other titles disappointed at the box office. Lions Gate said it booked a $7.2-million write-off on The Last Witch Hunter, which was released on Oct. 23, after the quarter ended. American Ultra also underperformed, the company said.

Amy Yong, an analyst at Macquarie Group Ltd., said the misstep was a rare one for Lions Gate and that its growing television operation matters more.

"The loss was minor on an absolute basis and I think investors will focus more on management's ability to grow its TV business and create additional franchises," Yong, who rates the stock "outperform," said in an interview. She described management as having a "near perfect track record."

While film and television revenue both fell, the company said deliveries of several shows, including Orange Is the New Black, Nashville and The Royals will drive revenue growth in the second half of the fiscal year, Lions Gate said.

The Last Witch Hunter has grossed $82.4-million worldwide, according to Box Office Mojo, a sum that's split with theaters. It cost $90-million to make, according to Imdb.com. American Ultra, which cost $28-million to make, has taken in $15.4-million.

Lions Gate, run from Santa Monica, Calif., fell 2.8 per cent to $38.28 in regular New York trading. The shares have advanced 20 per cent this year.

On Nov. 20, the company releases the fourth and final installment of its marquee franchise, The Hunger Games. Last year's The Hunger Games: Mockingjay - Part 1 earned about $755-million worldwide.

"The stock will come back pretty quickly," said Matthew Harrigan, an analyst at Wunderlich Securities, who has a buy rating on the shares.

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