Tag Archives: Earnings

Puss in Boots” gives DreamWorks’ earnings a boost

DreamWorks Animation SKG

Dream­Works Ani­ma­tion SKG

First-quarter earn­ings at Dream­Works Ani­ma­tion SKG Inc. rose slightly in the first quar­ter as both rev­enue and costs increased, the stu­dio announced Wednesday.

Over half of its rev­enue — or $73.6 mil­lion — came from over­seas ticket sales of its fea­ture film Puss in Boots and its release on home video in the United States. The film grossed about $554 mil­lion at the box office worldwide.

Such other recent films as Kung Fu Panda 2 con­tributed to rev­enue as well.

Net income in the three months end­ing March 31 reached $9.1 mil­lion (11 cents per share), just up from $8.8 mil­lion (10 cents per share) a year ago.

Rev­enue jumped 26% to $136.1 mil­lion from $108.0 mil­lion. Ana­lysts polled by Fact­Set had pre­dicted earn­ings of 8 cents per share on $132.3 mil­lion in revenue.

Rev­enue costs rose to $96.5 mil­lion from $72 mil­lion, while DWA paid $5.1 mil­lion in income taxes in the first quar­ter — up by 38% from the same period last year.

Second-quarter and full-year results for Dream­Works Ani­ma­tion are expected to be dri­ven by Mada­gas­car 3: Europe’s Most Wanted, which comes to the­aters on June 8. The film will com­plete with Pixar Ani­ma­tion Studio’s Brave.

How­ever, because of the sum­mer Olympics, Mada­gas­car 3 will be released late over­seas, DWA chief finan­cial offi­cer Lou Cole­man, said dur­ing a con­fer­ence call.

The stu­dio will release the movie in Aus­tralia, Italy, Japan, Spain and the Nordic region by the end of this year, and in the United King­dom and Ger­many in 2013.

Cole­man believes that the delay will affect both the box office and the DVD release for Mada­gas­car 3. Its dis­trib­u­tors will spend more on adver­tis­ing in the sec­ond quar­ter, he added.

TV rev­enue from Kung Fu Panda 2 and home enter­tain­ment rev­enue for Puss In Boots will also drive results in the sec­ond quar­ter, the com­pany said.

Dream­Works Ani­ma­tion shares closed up 36 cents (2%) Wednes­day at $18.46 on the Nas­daq in the reg­u­lar ses­sion. They rose another 64 cents (3.5%) to $19.10 in after-hours trading.

Shares of DWA have dropped by 10% since it announced a sharp fall in profit in its fourth quarter.

Disney’s fourth-quarter earnings jump 33 percent

Disney

Dis­ney

Fourth-quarter oper­at­ing income at the Walt Dis­ney Com­pany grew 33 per­cent to $421 mil­lion over the same period last year, the enter­tain­ment giant announced Thursday.

Walt Dis­ney Stu­dios recorded a 13 per­cent increase in oper­at­ing profit in the quar­ter to $117 mil­lion due to lower write-downs and strong ticket sales for The Lion King 3-D and The Help. How­ever, the Pixar division’s Cars 2failed to meet expec­ta­tions, so mer­chan­dis­ing sales accounted for most of the studio’s oper­at­ing profit.

Dis­ney CEO Robert Iger said the com­pany plans to “make fewer, more prof­itable movies.” He sin­gled out the live-action The Mup­pets, sched­uled for release on Thanks­giv­ing, as a pos­si­ble blockbuster.

Iger also pointed to Disney’s inter­na­tional busi­ness as expe­ri­enc­ing greater growth. He cited an agree­ment for a Dis­ney Chan­nel in Rus­sia and the begin­ning of build­ing a Dis­ney World-style resort in China.

The best-performing divi­sion at Dis­ney after parks was its TV busi­ness (includ­ing Dis­ney Chan­nel), where oper­at­ing income jumped 20 per­cent to $1.46 bil­lion. Strong inter­na­tional adver­tis­ing growth helped Dis­ney Channel.

Although atten­dance at Disney’s Florida and Cal­i­for­nia parks increased by just 1 per­cent, but per capita spend­ing grew by 9 per­cent, due to greater spend­ing on food and mer­chan­dise — as well as higher ticket prices.

Spend­ing is increas­ing at a pretty heavy level,” Dis­ney chief finan­cial offi­cer Jay Rasulo said dur­ing a con­fer­ence call with ana­lysts. Group book­ings have risen by “leaps and bounds,” he added.

Dis­ney reported a profit of $1.09 bil­lion (58 cents a share) for the quar­ter ended Octo­ber 1, a 30 per­cent increase from $835 mil­lion (43 cents a share) dur­ing the same period last year. Rev­enue grew 7 per­cent to $10.43 bil­lion. Ana­lysts had expect­ing a profit of about 55 cents a share for the most recent quarter.

Net income for the year rose 21 per­cent to $4.8 bil­lion from $3.96 bil­lion. Rev­enue increased slightly to $40.89 billion.

Dis­ney shares grew over 3 per­cent in after-hours trad­ing Thurs­day to $35.78.

DreamWorks Animation’s quarterly revenue jumps 38%

DreamWorks Animation SKG

Dream­Works Ani­ma­tion SKG

Dream­Works Ani­ma­tion’s second-quarter rev­enue rose 38% over the same period last year, while net income zoomed upward 42%, the com­pany announced Tuesday.

The Glen­dale, California-based stu­dio gave finan­cial results for its sec­ond quar­ter ended June 30. For the quar­ter, the com­pany reported total rev­enue of $218.3 mil­lion and net income of $34.1 mil­lion, or 40 cents per share on a fully diluted basis. This com­pares to rev­enue of $158.1 mil­lion and net income of $24.0 mil­lion, or 27 cents per share on a fully diluted basis, for the same period in 2010.

Kung Fu Panda 2 is cur­rently the fifth highest-grossing film of 2011 on a global basis and has exceeded $600 mil­lion at the world­wide box office to date,” said DWA chief exec­u­tive offi­cer Jef­frey Katzen­berg. “We are look­ing for­ward to the next two big events for the com­pany dur­ing the sec­ond half of the year: the Novem­ber 4 the­atri­cal release of Puss In Boots, and the release of Kung Fu Panda 2 into the home video mar­ket in the fourth quarter.”

Released on May 26, Kung Fu Panda 2 con­tributed $55.8 mil­lion of rev­enue in the quar­ter, gen­er­ated by its world­wide box office per­for­mance, as well as mer­chan­dis­ing and licens­ing activ­i­ties. It has grossed approx­i­mately $160 mil­lion in domes­tic box office and approx­i­mately $440 mil­lion in inter­na­tional box office to date.

Last year’s Mega­mind con­tributed $19.7 mil­lion of rev­enue in the quar­ter, dri­ven pri­mar­ily by home enter­tain­ment. The film reached an esti­mated 4.3 mil­lion home enter­tain­ment units sold world­wide through the end of the sec­ond quar­ter, net of actual and esti­mated future returns.

Shrek For­ever After and How To Train Your Dragon — both released in 2010 as well — con­tributed $34.9 mil­lion and $41.4 mil­lion of rev­enue in the quar­ter, respec­tively, dri­ven pri­mar­ily by world­wide pay-TV and home enter­tain­ment. These films reached an esti­mated 8.8 mil­lion and 8.7 mil­lion home enter­tain­ment units, respec­tively, sold world­wide through the end of the sec­ond quar­ter, net of actual and esti­mated future returns.

DWA expects that its third-quarter results will be dri­ven pri­mar­ily by the con­tin­ued inter­na­tional box office per­for­mance of Kung Fu Panda 2, in addi­tion to domes­tic pay-TV rev­enue from Mega­mind.