“Shrek” Brings in Green for DreamWorks Animation

The international box office receipts for “Shrek the Third” helped drive profits to $47 million for the third quarter for DreamWorks Animation SKG Inc. The Glendale-based animation company looks to its green ogre to drive the profits in the fourth quarter with the DVD release of “Shrek the Third” in November. “Shrek the Third is now one of the most successful animated films of all time and demonstrates that our franchise is one of the strongest in movie history,” said DreamWorks Animation CEO Jeffrey Katzenberg. DreamWorks Animation reported net income of $47 million, or $0.47 per diluted share, on revenues of $160.8 million for the period ending Sept. 30. That is a 350 percent increase of the net income of $10.5 million, or $0.10 per diluted share, on revenues of $55.6 million for the same period in 2006. “Shrek the Third” brought in $92.1 million in revenue for the third quarter, primarily from overseas receipts. The film has grossed $793 worldwide since its U.S. release in May. “Bee Movie,” the company’s next feature film release, isn’t expected to generate much revenue in the fourth quarter as the distributor will likely not have recouped its marketing and distribution costs.