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DreamWorks Posts $12.3M Profit, 73% Drop from Last Year

DreamWorks Animation SKG, Inc. reported a .3 million profit for the financial quarter that ended on March 31, 2006, representing a 73% drop from the same quarter a year ago. The profit was largely driven by home video sales of Madagascar, with no revenue generated by Shrek 2 or Wallace & Gromit: The Curse of the Were-Rabbit.

In the conference call with Wall Street analysts after the close of the stock market, the studio stated that almost all of its income this year will come from its upcoming animated film Over the Hedge, although its distribution deal with Paramount may result in DreamWorks not receiving any revenue from the movie until its home video release.

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