The Mercury News reports that Dreamworks Animation SKG, Inc.
swung to a profit in the fourth quarter, as revenue rose 42 percent from a year earlier on the strength of the blockbuster performance by “Shrek the Third.”The company said net profit reached $94.1 million, or 98 cents per share, up from a loss of $21.3 million, or 20 cents per share, in the fourth quarter of 2006.
Quarterly revenue hit $290.2 million.
Analysts are saying this was the best annual performance since Dreamworks Animation went public in Oct. of 2004. However,
“The blockbuster success of ‘Shrek the Third’ in 2007 will make 2008 a difficult year for comparison,” said chief financial officer Lew Coleman.