Los Angeles Business Journal

‘Puss’ Boosts DreamWorks Animation’s Quarter

By Deborah Crowe Wednesday, May 2, 2012

DreamWorks Animation SKG Inc. said that its first quarter profit rose slightly, largely driven by home video and overseas theatrical revenue from its hit movie “Puss in Boots.”

After the markets closed on Wednesday, the Glendale film studio reported net income of $9.1 million (11 cents a share), compared with $8.8 million (10 cents) in the same period a year earlier. Revenue rose 26 percent to $136 million.

Analysts surveyed by Thomson Reuters on average expected the company to report profit of 9 cents a share on revenue of $134 million.

“Puss” has grossed about $554 million worldwide since its October release and contributed $73.6 million to DreamWorks’ revenue last quarter. “Kung-fu Panda 2,” last summer’s release, contributed $14.1 million in revenue, primarily from home video.

Shares earlier closed up 36 cents, or 2 percent, to $18.46 on the Nasdaq.