DreamWorks Animation reported an $82.7 million loss in the fourth quarter after taking an $87 million write-down related to the flop "Rise of the Guardians," Brooks Barnes reports.
For the most recent quarter, DreamWorks Animation reported a slim profit of $12.8 million, a 63 percent plunge from a year earlier; revenue dropped 25 percent, to $162.8 million.
Because of the charges, which also included $20 million related to films in development and $4.6 million in restructuring costs, DreamWorks Animation reported a loss of $36.4 million for the year.
For the quarter, which ended on June 30, DreamWorks Animation reported net income of $22.2 million, or 26 cents a share, up from $12.8 million, or 15 cents a share, in the same period a year earlier.
For the quarter, DreamWorks Animation reported a loss of $82.7 million, or 98 cents a share, in contrast to a profit of $24.3 million, or 29 cents a share, for the same period a year ago.
Mr. Katzenberg has been trying to convince a skeptical Wall Street that his company is strong despite poor financial results; DreamWorks Animation reported a 63 percent drop profit for its most recent quarter.
DreamWorks Animation reported a substantial profit on the strength of one video release (Shrek 2) and one theatrical release (Shark Tale).
The talks were first reported by the online blog All Things D. During the first quarter, Dreamworks Animation reported net income of $5.6 million, or 7 cents a share, on revenue of $135 million.
Stars that pass too close to black holes go through wild contortions as they are sucked inside, a sight you can now watch in a new NASA animation, The Washington Post reports.
DreamWorks Animation did report $10.7 million in revenue in the quarter from the film.
