DreamWorks Swings To Q4 Loss

(RTTNews.com) - DreamWorks Animation SKG, Inc. ( DWA ) reported a net loss for the fourth quarter of $82.7 million or $0.98 per share, compared to net income of $24.3 million or $0.29 per share for the year-ago quarter.

The latest quarter results were impacted by a charge of about $165 million, which includes a write-down of film costs for Rise of the Guardians in the amount of $87 million, charges totaling $54 million related to the company's decision to return Me & My Shadow back to development, a write-off of a number of other development projects in the amount of $20 million and a charge of $4.6 million related to restructuring activities.

Revenue for the fourth quarter rose to $264.66 million from $218.97 million in the same quarter last year.

Analysts polled by Thomson Reuters expected the company to report a loss of $0.06 per share on revenue of $216.04 million for the fourth quarter. Analysts' estimates typically exclude special items.

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