Dreamworks Animation Studios (DWA) ended the third quarter with solid profit gains, based primarily on the worldwide success of "Shrek the Third." Also adding to the third-quarter profits were fees collected for "Over the Hedge" and "Flushed Away" for broadcast, pay television and DVD.
The profits were over four times ahead of last years, which finished at $10.5 million, equal to 10 cents a share. This year they finished with $47 million or 47 cents a share.
Revenue for the quarter ended with $160.8 million, up from $55.6 million. Of that, $92 million came from "Shrek the Third."
"'Shrek the Third' is now one of the most successful animated films of all time and demonstrates that our franchise is one of the strongest in movie history," said Jeffrey Katzenberg, CEO of DreamWorks Animation. So far the film has generated $793 million in global revenue. For animated films, it's the third highest grossing film in history.
The upcoming release of the "Bee Movie" on November 2, won't add much to the bottom line of the fourth quarter, neither will its first entry in television, which will be a special, "Shrek the Halls," which will air on ABC (DIS) on November 28. Those will impact the first quarter instead.
Expectations for the "Bee Movie" are about $181 million to $190 million domestically, and similar numbers globally.
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