• by David Goetzl  @dgoetzl, August 11, 2009

In its first full quarter with results reflecting its stake in the TV Guide Network, Lionsgate posted revenues up 30% in the April-June period and a jump in profit. But the increasingly multifaceted media company has several initiatives over the next several months that could prove to be pivotal: the fate of the third season of "Mad Men"; the release of the latest film in the "Saw" franchise; and the would-be launch of the Epix pay movie channel.

Lionsgate revenues for the recently completed quarter came in at $387.7 million, with $27.8 million coming from the TV Guide channel and its related Web site.

Lionsgate acquired the two properties earlier this year, then sold a 49% stake to a private-equity arm of J.P. Morgan Chase. It has signaled it plans to turn the network into a general entertainment outlet and has acquired rights to offer repeat episodes of ABC's "Ugly Betty" this fall.

Companywide profit was $36.3 million in the April-June quarter, up from $3.5 million a year ago.

The AMC series "Mad Men," produced by Lionsgate, has its third season debut Aug. 16. The show has received critical acclaim but modest ratings. If it picks up viewers this year, it could be a sign that the series will have a long run with lucrative syndication dollars to come.

The fate of the Epix channel also hangs in the balance. Lionsgate is about a one-third partner with Viacom and MGM -- and as of late June, had invested $27 million, but the network has had trouble securing distribution.

The "Saw VI" film debuts in October. A potential sleeper hit, as documentaries go, could be a film about NBA star LeBron James and four friends during their high school years.

In the April-June quarter, revenue from television production at Lionsgate climbed 112% to $87.2 million. Ratings were high enough for new series "Nurse Jackie," with former "Sopranos" star Edie Falco, that Showtime quickly committed to a second season.