DreamWorks Animation Beats 3Q Profit Forecasts, But Revenues Fall Short

The company ended the quarter with net income of $19.7M, down 50.6% vs the same period last year, on revenues of $160.8M, down 14.9%. Earnings at 23 cents a share were slightly ahead of the 22 cents that analysts expected. But they also predicted that DreamWorks would generate $163M in revenues. “DreamWorks Animation’s financial results tend to fluctuate due to, among other factors, the timing of our feature film releases and the number of our films in any given year,” President Lew Coleman says. “This is the case in the third quarter of 2011, in part because our financial results reflect the timing of the international theatrical release of Kung Fu Panda 2 this year compared to Shrek Forever After in 2010.”