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DreamWorks Animation 4th Quarter Profits
14/03/06, 8:16pm EST
Last week, DreamWorks Animation SKG Inc announced a 67% decline in its fourth-quarter profits.

The Glendale, California-based said its net income for the three months ended December 31 fell to $63.2 million, or 61˘ per share, from $192 million, or $1.99 per share, in the year-ago quarter. The net income figure for the latest quarter, which was short of the average expectations of the Wall Street analysts, was adversely impacted by a charge associated with the disappointing performance of "Wallace & Gromit: The Curse of the Were-Rabbit," DreamWorks Animation said.

The company’s sales plunged 65% to $172.9 million in the fourth quarter, from $495.7 million in the same period a year earlier. Revenues in the latest quarter were driven mainly by the DVD sales of "Madagascar." DreamWorks Animation’s share price dipped 2.76% to $26.12 in after-hours trading on the NYSE.

Source: NewRatings



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