DREAMWORKS - DREAMWORKS TAKES A TUMBLE

DREAMWORKS TAKES A TUMBLE

DreamWorks Animation on Tuesday joined the list of media companies reporting steep profit declines in the fourth quarter. Profits fell 45 percent to $52 million on revenue of $200 million. Attempting to put a positive spin on the results, the company pointed out that figures in the previous year were boosted by sales of the Shrek the Third DVD. CFO Lew Coleman told investors during a conference call Tuesday that the results represented "our most successful non-Shrek year as a pubic company." He further noted that box-office receipts from King Fu Panda and Madagascar Escape to Africa "togther exeeded $1.2 billion, a 12 percent incease over our 2007 total."

25/02/2009