Dreamworks reports 2Q loss following a profitable quarter a year ago

Dreamworks Animation SKG Inc. (DWA) on Tuesday reported a second-quarter loss after posting a profit in the same period a year earlier. The company's results fell short of analysts' expectations.

The Glendale, California-based company reported a loss of $15.4 million, or 18 cents per share, compared with a profit of $22.3 million, or 26 cents per share, in the same quarter a year earlier.

Losses, adjusted for non-recurring gains, came to 27 cents per share. The average estimate of analysts surveyed by Zacks Investment Research was breakeven on a per-share basis.

The animation studio said revenue declined 43 percent to $122.3 million from $213.4 million in the same quarter a year ago, and missed Wall Street forecasts. Analysts expected $142.9 million, according to Zacks.

Dreamworks Animation shares have fallen $12.84, or 36 percent, to $22.66 since the beginning of the year. The stock has dropped $1.63, or 6.7 percent, in the last 12 months.


This story was generated automatically by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Full DWA report: http://www.zacks.com/ap/DWA


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