LOS ANGELES, May 30 (UPI) -- Even the success of U.S. screenwriter Tyler Perry's "Madea Goes to Jail" cannot help Lions Gate Entertainment avoid a bad year, initial figures show.
The Los Angeles Times reported Friday while the U.S. film studio does not release its official year-end revenue results until Monday, initial figures from the studio's 2008 offerings indicate Lions Gate is facing significant losses.
The studio has already acknowledged its losses from the last fiscal year, which officially ended March 31, could reach up to $135 million.
The estimated losses come despite estimations the studio will post record year-end revenue numbers totaling up to $1.5 billion, the Times said.
Those possible record numbers are mainly due to the success of movies such as "Madea," which Perry helped gross $89.2 million during the studio's fourth quarter.
The Times said while the studio also enjoyed solid successes with the films "My Bloody Valentine" and "The Haunting in Connecticut," it sustained significant disappointments with "The Spirit," "Disaster Movie" and "Transporter 3."