DreamWorks Animation Reports Profit
LOS ANGELES (AP) -- Continued strong DVD sales of its animated feature "Madagascar" helped swing DreamWorks Animation SKG Inc. to a profit in the third quarter, the company said Tuesday.
Profits were also boosted by sales to pay television markets of its fall 2005 feature, "Wallace and Gromit: Curse of the Were-Rabbit."
DreamWorks Animation's next film, "Flushed Away," opens domestically on Friday.
"We had a somewhat quiet third quarter financially, but we had a lot going on in the creative area," DreamWorks Animation chief executive Jeffrey Katzenberg said in a conference call with analysts.
The company's highly anticipated sequel to its popular "Shrek" franchise, "Shrek the Third," will be released next May.
Katzenberg expressed optimism about the movie's prospects, even though it will be sandwiched between the Sony Pictures release "Spider-Man 3" and "Pirates of the Caribbean: At World's End" from The Walt Disney Co.
"We never underestimate the quality and performance of the competition," Katzenberg said. "The moviegoing marketplace can certainly accommodate all three of these films."