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DreamWorks revenue falls, takes charge for poor Turbo performance

Published on Feb 26, 2014 6:00 AM
Cinema still: Turbo. -- FILE PHOTO: SINGTEL

(REUTERS) - DreamWorks Animation SKG Inc reported a fall in quarterly revenue as it did not release any major movie in the period and said it took a charge due to the continued poor performance of Turbo.

The company reported net income of US$17.3 million (S$21.9 million), or 20 cents per share in the fourth quarter, compared with a loss of US$82.7 million, or 98 cents per share, a year earlier.

Revenue fell 22.8 per cent to US$204.3 million.

The latest quarter results included an impairment charge of US$13.5 million, or 12 cents per share, due to poor performance of Turbo during the last two months of the quarter.

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