“Shrek” Delivers Big Profits for DreamWorks Animation

DreamWorks Animation reported a net income of $61.8 million for the second quarter, driven primarily by the big box office numbers of “Shrek the Third.” The third film of the Glendale-based studio’s flagship franchise was the most successful domestic opening for an animated film. As of July 31, the film has brought in $400 million worldwide. For the second quarter ending June 30, DreamWorks reported a net income of $61.8 million, or $0.60 per diluted share, on revenues of $222.5 million. That is a 342 percent increase over the net income of $13.7 million, or $0.13 per diluted share, on revenues of $74.9 million for the same reporting period in 2006. Third quarter results for DreamWorks Animation are expected to be driven by the international box office for “Shrek the Third.”