DreamWorks revenue falls, takes charge for poor 'Turbo' performance

Reuters News
Posted: Feb 25, 2014 4:32 PM

(Reuters) - DreamWorks Animation SKG Inc reported a fall in quarterly revenue as it did not release any major movie in the period and said it took a charge due to the continued poor performance of "Turbo."

The company reported net income of $17.3 million, or 20 cents per share in the fourth quarter, compared with a loss of $82.7 million, or 98 cents per share, a year earlier.

Revenue fell 22.8 percent to $204.3 million.

The latest quarter results included an impairment charge of $13.5 million, or 12 cents per share, due to poor performance of "Turbo" during the last two months of the quarter.

"Turbo" is an animated movie about a garden snail that races in NASCAR and was released on July 17.

(Reporting By Lehar Maan in Bangalore; Editing by Savio D'Souza)