Dragon” helps double DWA’s fourth-quarter profit

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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

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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.


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