Tue, Aug. 4, 5:41 PM
- DreamWorks Animation (NASDAQ:DWA) has now slipped 5.1% after hours, after beating expectations on top and bottom lines even as net loss widened due to the company's ongoing restructuring, which has involved deep staff cuts and the sale of its headquarters this year.
- Revenue grew almost 40% Y/Y as Home -- the studio's only theatrical release for the year -- contributed $23.9M in film revenue for Q2. The film hit physical DVD and Blu-ray before quarter's end, and overall it's earned $177M domestically and $209M internationally at the box office (total $386M worldwide).
- Adjusted results exclude a $20.9M pretax charge (an effect of $0.25 share on earnings) associated with the restructuring plan. Some $2.4M was due to termination and employee-related costs, $10.9M on accelerated depreciation/amortization with the closure of Redwood City, and $7.6M related to excess staffing tied to the film slate.
- In the company's earnings call, CEO Jeffrey Katzenberg said “While there is still much work to be done, I’m really proud of what our team has accomplished this quarter."
- Press Release
Tue, Aug. 4, 4:20 PM
Mon, Aug. 3, 5:35 PM
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Thu, Apr. 30, 4:56 PM
- DreamWorks Animation (NASDAQ:DWA) 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 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.
- Shares sold off quickly just after the report but have returned to flat postmarket.
- Press release
Thu, Apr. 30, 4:16 PM
Wed, Apr. 29, 5:35 PM
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Tue, Feb. 24, 8:39 PM
- On its Q4 earnings call, DreamWorks Animation (NASDAQ:DWA) filled in some details on a tough quarter -- one which saw them lose almost a quarter of a million dollars, pre-announce a heavy writedown on The Penguins of Madagascar and two unreleased projects, prepare layoffs of 500 workers, and cut its film production schedule to two films a year instead of three.
- Shares were down 8.7% in late trading.
- Though the plans are to make two movies a year, the studio has just one slated for the "transitional year" of 2015: alien-relocation comedy Home, and it comes out March 27. It's budgeted in the $135M range, while the studio is generally aiming for $120M budgets.
- CEO Jeffrey Katzenberg reshuffled execs, tapping veteran producers Bonnie Arnold and Mireille Soria to lead feature animation, and will take the opportunity to get personally re-engaged with the creative side of the company: "Returning to a much much more active participating role ... has been the silver lining for me" after "without a question, the hardest, most difficult, most painful eight weeks in our 20-year history."
- Saying it's better to get liquidity when you don't need it, the company increased its revolving credit facility to $450M from $400M and extended its term to February 2020.
- The studio also is selling its Glendale headquarters and will enter into a leaseback arrangement for $185M.
- Previously: DreamWorks still lower in wake of heavy layoffs (Jan. 28 2015)
- Previously: DreamWorks Animation confirms layoffs (Jan. 23 2015)
Tue, Feb. 24, 4:23 PM
- DreamWorks Animation SKG (NASDAQ:DWA) missed on Q4 revenues and earnings expectations, even with advance writedowns on films The Penguins of Madagascar and Mr. Peabody and Sherman.
- The results also featured the impact of its plans for heavy layoffs; DWA took a $210.1M pre-tax charge associated with restructuring.
- Revenue breakdown: Feature film segment, $131.3M (How to Train Your Dragon 2 contributes $66M; Turbo, $5.8M; The Croods, $6.5M; library titles, $46.1M; The Penguins of Madagascar and Mr. Peabody and Sherman did not contribute as they hadn't recouped marketing/distribution costs).
- Television Series and Specials revenue: $50.7M, up 7.7%. Consumer Products, $22.1M, up 77.5%. New Media Segment, $24.9M.
- Conference call at 4:30 p.m ET.
- Shares -0.6% after hours.
- Press release
Tue, Feb. 24, 4:10 PM
Mon, Feb. 23, 5:35 PM
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Oct. 29, 2014, 4:19 PM
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