And tells Wall Street how its quarter went.
DreamWorks Animation posted an adjusted net loss of $21.5M in Q1, excluding a $31.9M charge it took for restructuring, and missed on earnings for Q1 despite a revenue beat off a strong 13% gain there. CEO Jeffrey Katzenberg pointed to the success of Home, the studio's only planned release for 2015, as signs that its turnaround plan is taking effect. Home has drawn $154M domestically and is just short of $300M worldwide.
Revenues were up across all operating segments: Feature films, $128M (up from $110.1M in 2014); Television Series & Specials, $18M (roughly flat); Consumer Products, $15.1M (up from $12.1M); New Media, $4.6M (up from $4.1M).
Library titles contributed heavily to the feature film revenues ($37.9M, vs. a contribution of $41.4M from How to Train Your Dragon 2 and $31.5M from Mr. Peabody and Sherman. Net cash provided by operations was $1.6M, up from the prior year's -$12.5M. ...
DreamWorks' roller coaster ride is getting slowly better, but the company needs to get the cars to roll upwards on a more permanent basis to reach robust profitability.
Whether Jeffrey and associates can achieve that is an open question, but at least, after a steep sell-off after today's report, DWA stock bounced back.
Add On: The Times tells us:
After a brutal six months marked by creative retrenchments and two failed merger attempts, DreamWorks Animation on Thursday reported a first-quarter loss of $54.8 million.
The boutique studio, based in Glendale, Calif., reported a per-share loss of 64 cents for the quarter, which ended on March 31. In the same period a year earlier, it had a loss of $42.9 million, or 51 cents a share.
Analysts expected a loss in the most recent quarter of roughly 45 cents.
Revenue climbed to $166.5 million, a 13 percent increase.
DreamWorks Animation was hurt by a hefty restructuring charge; increased costs at AwesomenessTV, a YouTube-based entertainment business aimed at teenage girls; and continuing fallout from “The Penguins of Madagascar,” which flopped late last year. The bulk of revenue came from premium television reruns of “How to Train Your Dragon 2,” which was released last summer. ...