Toldja So
It took long enough, but the company that said you can only make profits from CGI animated movies has been losing money:
NEW YORK -- It's a typical story this earnings season: DreamWorks Animation saw profits and revenue dip last quarter.
Major problem was a tough comparison with the same period the year before when blockbuster DVD "Shrek the Third" bowed, the company said, plus higher costs from new businesses including the Virtual Studio, TV projects and Broadway.
Net income fell 45% to $52 million and revenue dropped 31% to about $200 million. But box office was booming and DWA's homevideo sales were robust, execs said, making 2008 "the most successful non-Shrek year in our history," according to chief financial officer Lew Coleman.
Perhaps they’ll reconsider? I wouldn’t hold my breath.
NEW YORK -- It's a typical story this earnings season: DreamWorks Animation saw profits and revenue dip last quarter.
Major problem was a tough comparison with the same period the year before when blockbuster DVD "Shrek the Third" bowed, the company said, plus higher costs from new businesses including the Virtual Studio, TV projects and Broadway.
Net income fell 45% to $52 million and revenue dropped 31% to about $200 million. But box office was booming and DWA's homevideo sales were robust, execs said, making 2008 "the most successful non-Shrek year in our history," according to chief financial officer Lew Coleman.
Perhaps they’ll reconsider? I wouldn’t hold my breath.
posted by Jaimetud at 4:50 PM
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