Message Font: Serif | Sans-Serif
No. of Recommendations: 2

For the third quarter 2004, revenue totaled $241.3 million, costs of revenue were $196.3 million, and net income totaled $20.3 million ($13.7 million after pro forma taxes or $0.18 per diluted share). These results compare favorably to the same period last year, when the company recorded revenue of $47.8 million, costs of revenue of $73.0 million, and a net loss of $35.9 million, or $0.47 net loss per diluted share.


"Our results for the third quarter reflect the strong domestic and international theatrical performance of Shrek 2, as well as continuing revenue generated by our growing library of films," said DreamWorks Animation CEO Jeffrey Katzenberg. "We are also thrilled with the results of our films in the fourth quarter, including the recent box office success of Shark Tale, which has earned over $300 million on a worldwide basis and is still being released in several international territories. In addition, initial Shrek 2 video sales have set an all-time record, selling over 30 million units worldwide in just over four weeks. We are well positioned in the CG animation market with a distinctive and powerful brand, a world-class, highly experienced creative team, and the scale and resources necessary to produce two high-quality CG films per year."

The company also announced that it has decided to move its release of Shrek 3 from November 2006 to May 2007.

"We believe there are more than a half a dozen strong release windows available annually for our films," commented Jeffrey Katzenberg. "We look at each film very specifically to determine which of these release windows will best maximize its value in the marketplace based on a number of factors, including its story, the competitive landscape and the overall market potential. The sheer magnitude of the Shrek franchise has led us to conclude that a May release date -- with a DVD release around the holiday season -- will enable us to best maximize performance and increase profitability, thereby generating enhanced asset value and better returns for our shareholders."

Based on this change, DreamWorks Animation's new anticipated release schedule is as follows:

- Madagascar (release on May 27th 2005)
- Wallace & Gromit: Tale of the Were Rabbit (release on October 7th 2005)
- Over the Hedge (release on May 19th 2006)
- Flushed Away (release in fall 2006)
- Shrek 3 (release in May 2007)

Print the post  


When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.