'Liz & Dick' -- The Ratings Are In ... It's No 'Steel Magnolias'

The ratings are in -- and Lindsay Lohan's "Liz & Dick" did NOT get the viewers it needed to become Lifetime's most watched TV movie of 2012 ... not even close.

According to Lifetime, L&D drew 3.5 million viewers during its premiere last night -- solid, but not the earth-shattering numbers Lifetime was gunning for with all the buzz around the film.

Lifetime's "Steel Magnolias" -- the most-watched TV movie this year -- attracted 6.5 million.

The numbers make "Liz & Dick" the fourth most-watched Lifetime movie this year behind "Drew Peterson: Untouchable" (with 5.8 million viewers) and "Abducted: The Carlina White Story" (with 4.09 million viewers).