DreamWorks Animation made money in the first fiscal quarter of 2013 without help rom the release of a new movie. The company posted net income of $5.6 million and earnings per share of $0.07, surprising Wall Street analysts that forecast a loss.
The company pieced together $134.6 million in revenue from home entertainment, live theatrical performances, its library and Classic Media, a company it acquired last July. Its library contributed $41.4 million in revenue while past releases like "Madagascar 3: Europe's Most Wanted" and "Rise of the Guardians" helped on the home entertainment side.
The company had lost $82.7 million dollar in its previous quarter ...
This just goes to show that DreamWorks Animation has value and cash flow above and beyond its current release. There are, after all, stuffed toys, games, dvds and other "ancillary markets."
And of course, the current release, The Croods is doing quite nicely, which must be a relief to Jeffrey and associates.
But I've thought for a while now that some of the downsizing of DWA was attributable to getting the company in shape for purchase (lock, stock and film library) by one of our fine, entertainment conglomerates, most likely 20th Century Fox.
(The other reason for the layoff of 350 staffers was -- here's a surprise -- that the pictures are expensive, and if one of them isn't a smash hit, money difficulties soon arise.)
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