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Blockbuster 'Shrek the Third' helps DreamWorks Animation swing to $94M 4Q profit

Blockbuster 'Shrek the Third' helps DreamWorks Animation swing to $94M 4Q profit

DreamWorks Animation SKG Inc. said Tuesday it swung to a profit in the fourth quarter, as revenues rose 42 percent from a year earlier led by the blockbuster performance of "Shrek the Third."
The company said Tuesday that net profit reached $94.1 million (euro63.26 million), or 98 cents per share, up from a loss of $21.3 million (euro14.32 million), or 20 cents per share, in the fourth quarter of 2006.
Quarterly revenue hit $290.2 million (euro195.11 million).
Analysts polled by Thomson Financial, on average, expected the company to post earnings of 72 cents per share on revenue of $277 million (euro186.23 million).
DreamWorks shares rose 56 cents to $24.45 before the earnings were announced. They climbed another $1.05, or 4.3 percent, in after-hours trading.
Dreamworks' "Bee Movie," which was released Nov. 2, was considered by analysts to be a box office disappointment, taking in $126.6 million (euro85.11 million) in the U.S. and $285.2 million (euro191.74 million) worldwide.
Chief Executive Jeffrey Katzenberg said the profitability of "Bee Movie" rests largely on its success on DVD when it is released next month.


Updated : 2021-01-27 08:55 GMT+08:00