DreamWorks profit drops 55%
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From Times Wire Services
DreamWorks Animation SKG Inc. said second-quarter profit declined 55% as “Kung Fu Panda” collected about half the ticket sales of last year’s “Shrek the Third.”
Net income fell to $27.5 million, or 30 cents a share, from $61.8 million, or 60 cents, a year earlier, the Glendale company said. Excluding a tax benefit, profit of 28 cents a share topped the 23-cent average of analysts’ estimates.
DreamWorks Animation shares rose 50 cents to $31.29.
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