Revenues Up at DreamWorks Animation

GLENDALE: Fourth-quarter revenues at DreamWorks Animation rose by 36.3 percent to reach $319.3 million, delivering an adjusted net profit of $48.1 million.

Television series and specials generated revenues of $104.9 million, compared to $50.7 million during the prior-year period. The segment was boosted by the delivery of a higher number of episodes under licensing deals and the extension of SVOD agreements for seasonal television specials. Segment gross profit increased to $46.6 million from a loss of $2.6 million in Q4 2014.

Feature-film revenues rose to $146.4 million, with a gross profit of $63.5 million, as compared with a $152.2 million loss in the same period last year. Library titles contributed revenues of $71.2 million, driven by an extension of existing SVOD licensing arrangements and worldwide television and home-entertainment revenues for a number of titles. Another key contributor was the film Home, which delivered revenues of $55.3 million.

Consumer products revenues rose to $31.7 million thanks to retail development and location-based entertainment initiatives, plus L&M from the studio’s TV series. Segment profit dipped to $5.7 million. New-media revenues rose to $32.9 million.

“Although 2015 was a transitional year for our company, I am exceptionally proud of what the DreamWorks team has accomplished this year and I’m pleased to report that we have met or exceeded our stated full year 2015 goals across all key financial metrics,” said Jeffrey Katzenberg, CEO of DreamWorks Animation. “DWA delivered its best top line result in 11 years and highest revenue growth in eight years, accelerating 34 percent from 2014. In addition, our positive adjusted operating income and operating cash flow demonstrate our commitment to profitably grow our businesses while keeping a sharp eye on cost management and productivity improvements.”

Katzenberg continued, “While there is still much work to be done before we cross the goal line on the objectives we shared a year ago, we enter 2016 with considerable momentum. Our continued focus on executing on our strategic goals will not only ensure sustainable and profitable growth over the long term, but create shareholder value for years to come.”

Full-year revenues were up 33.8 percent to $915.9 million, which included $520.1 million from the film segment and $228.1 million from TV series and specials.