DreamWorks Q3 Tops Street; Shares Up 7%

(RTTNews) - DreamWorks Animation SKG Inc. (DWA) on Thursday reported a loss for the third quarter from a profit last year, hurt largely restructuring charges. However, shares of the company gained over 7 percent in extended session after the company's profit and revenues trumped Wall Street estimates.

Glendale, California-based DreamWorks reported third-quarter loss of $3.5 million or $0.04 per share, compared to last year's profit of $11.9 million or $0.14 per share.

Excluding special items, adjusted earnings for the quarter was $1.4 million or $0.02 per share. On average, seven analysts polled by Thomson Reuters expected a loss of $0.05 per share for the quarter. Analysts' estimates typically exclude special items.

DreamWorks, the studio behind 'Shrek', 'Kung Fu Panda' and 'How to Train Your Dragon,' said revenues for the third quarter jumped 43.3 percent to $259.2 million from $180.9 million a year ago. Analysts had a consensus revenue estimate of $205.98 million for the quarter. Analysts' estimates typically exclude special items.

"DreamWorks Animation delivered solid third quarter results, highlighted by strong top-line growth and meaningful segment gross profit across all of our businesses," said CEO Jeffrey Katzenberg.

Revenues from the Feature Film segment increased to $157.9 million from $142.4 million in the prior-year period. Home, which was released domestically on March 27 collected $386 million at the worldwide box office. The film contributed feature film segment revenue of $49.7 million in the quarter.

Revenues from the Television Series and Specials segment surged to $50.7 million from $14.3 million a year ago. Revenues from the Consumer Products segment increased to $27.0 million from $12.1 million last year.

DWA closed Thursday's trading at $20.21, up $0.07 or 0.35%, on the Nasdaq. The stock further gained $1.54 or 7.62% in the after-hours trade.