“Dragon” helps double DWA’s fourth-quarter profit

0 Flares Facebook 0 Google+ 0 Twitter 0 Pin It Share 0 StumbleUpon 0 Filament.io 0 Flares ×
How To Train Your Dragon

How To Train Your Dragon

DVD sales of “How to Train Your Dragon” and a tax benefit helped double DreamWorks Animation SKG Inc.’s fourth-quarter profit, the studio behind the Shrek movies announced Thursday.

Net income rose to $85.2 million (99 cents a share) from $43.6 million (50 cents) the previous year. With the exception of some items, analysts had expected profit of 73 cents a share, the average of 12 estimates compiled by Bloomberg.

Sales jumped 42% percent to $275.7 million, although 11 analysts’ estimates compiled by Bloomberg thought that they would reach $291.7 million.

The tax credit added $45 million (52 cents) to earnings, DreamWorks Animation said.

DWA repurchased 3.1 million of its shares for about $111 million over the year, said a statement from the studio. The Glendale, California-based company has $150 million left under its current authorization.

Home-video sales helped to offset a weak performance at the box office, although Megamind — which was released Friday on DVD — won’t be a major contributor to the current quarter, DWA said.

More at The Big Cartoon Forum

Related Posts:

About Mr. Clevland

MrClevland has been a cartoon fan since, well, infancy. He has been writing nearly that long. Opinionated, yes, but backed with a wealth of personal knowledge on the subject. You can give r. C a piece of your mind here.

News,

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>