DreamWorks swings to a loss in 4Q |
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Tue, 27 Feb 2007 23:01
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LOS ANGELES (AP) - DreamWorks Animation SKG Inc. on Tuesday swung to a loss in the fourth quarter as the company took a partial write-off due to lackluster sales of its film 'Flushed Away.'For the three months ended Dec. 31, the Glendale-based film and TV animation studio reported a net loss of $21.3 million, or 20 cents per share, compared to net income of $63.2 million, or 61 cents per share, in the same quarter in 2005.The fourth-quarter results included a pre-tax charge of $109 million for the film 'Flushed Away,' which did not perform well at the box office. The write-off reduced fourth-quarter earnings by 80 cents per share.Revenue rose to $204.3 million from $172.9 million in the prior-year period.Analysts surveyed by Thomson Financial had expected a loss of 42 cents per share on revenue of $158.9 million.Copyright 2007 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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DreamWorks swings to 4Q loss on charges 