DreamWorks Animation Profits Drop
"We have been building toward 2010 for several years and are looking ahead with excitement to accomplishing what no other studio in history has ever done by releasing three computer-generated animated films in a single year - all in 3D: How to Train Your Dragon, Shrek Forever After and Megamind," added Katzenberg.
Finally, the Company provided an update to its share repurchase program. For the full year 2009, the Company purchased $45.7 million, or 2.3 million shares. The Company has $150 million remaining under its current authorization.
Items related to the earnings press release for the fourth quarter of 2009 will be discussed in more detail on the Company's fourth quarter 2009 earnings conference call later today.
Conference Call Information
DreamWorks Animation will host a conference call and webcast to discuss the results on Tuesday, February 23, 2010, at 4:30 p.m. (ET). Investors can access the call by dialing (800) 230-1059 in the U.S. and (612) 288-0337 internationally and identifying "DreamWorks Animation Earnings" to the operator. The call will also be available via live webcast at www.dreamworksanimation.com.
A replay of the conference call will be available shortly after the call ends on Tuesday, February 23, 2010. To access the replay, dial (800) 475-6701 in the U.S. and (320) 365-3844 internationally and enter 142718 as the conference ID number. Both the earnings release and archived webcast will be available on the Company's website at www.dreamworksanimation.com.
About DreamWorks Animation SKG
DreamWorks Animation creates high-quality entertainment, including CG animated feature films, television specials and series, live entertainment properties and online virtual worlds, meant for audiences around the world. The Company has world-class creative talent, a strong and experienced management team and advanced filmmaking technology and techniques. DreamWorks Animation has been named one of the "100 Best Companies to Work For" by FORTUNE(R) Magazine for two consecutive years. In 2010, DreamWorks Animation ranks #6 on the list. All of DreamWorks Animation's feature films are now being produced in 3D. The Company has theatrically released a total of 18 animated feature films, including the franchise properties, Shrek, Madagascar and Kung Fu Panda. DreamWorks Animation's three feature film releases in 2010 are How to Train Your Dragon, Shrek Forever After and Megamind.