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DreamWorks Animation 2nd-quarter profit shrinks 63 pct, comes in below Wall St. expectations

Published on July 31, 2012; Published on July 31, 2012

Topics :: DreamWorks Animation SKG Inc. , FactSet , GLENDALE, Calif. , Europe

GLENDALE, Calif. - DreamWorks Animation SKG Inc. says its second-quarter net income fell 63 per cent to a level below analysts' expectations.

Net income in the three months to June 30 was $12.8 million, or 15 cents per share, compared with $34.1 million, or 40 cents per share, a year ago.

Revenue fell 25 per cent from a year ago to $162.8 million.

Analysts polled by FactSet were looking for 25 cents per share of earnings on revenue of $185 million.

Results for the movie studio were driven by the box office receipts from the movie "Madagascar 3: Europe's Most Wanted." The movie has grossed more than $500 million in theatres worldwide since its June 8 release.

Shares of the Glendale, Calif., company closed up 2 cents to $19.20 and were unchanged in after-hours trading.

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