DreamWorks quadruples third-quarter profits

first_imgThe animated sequel “Shrek The Third” helped DreamWorks Animation SKG Inc. quadruple its third-quarter profit, as the film neared $800 million in worldwide revenue, the company said Tuesday. The Glendale-based company reported third-quarter net income of $47 million, or 47 cents per share for the quarter ended Sept. 30, compared to $10.5 million, or 10 cents per share, for the same period last year. Revenue nearly tripled to $160.8million, compared with $55.6 million in the year-ago period. Analysts surveyed by Thomson Financial had expected earnings of 44 cents per share on revenue of $166.6 million. “We are extremely pleased with the theatrical results of `Shrek The Third,’ especially with its performance overseas, where it has nearly equaled the box office success of `Shrek 2,”‘ DreamWorks Animation CEO Jeffrey Katzenberg said. AD Quality Auto 360p 720p 1080p Top articles1/5READ MOREGame Center: Chargers at Kansas City Chiefs, Sunday, 10 a.m.The company said its fourth-quarter earnings would rely on the home video release of “Shrek The Third.” The title hits stores next month. The next animated film from the company is “Bee Movie,” written by comedian Jerry Seinfeld, which opens in theaters on Friday. Other revenue came from the home video release of “Over the Hedge” and “Flushed Away.” 160Want local news?Sign up for the Localist and stay informed Something went wrong. Please try again.subscribeCongratulations! You’re all set!last_img