* Posts first-quarter loss on charge for "Mr. Peabody &
* First-quarter revenue misses analysts' estimates
* Shares down as much as 6 pct after market
(Adds CFO comments from conference call, background; updates
April 29 DreamWorks Animation SKG Inc
reported its first quarterly loss in five quarters as the
Hollywood studio took an impairment charge related to the weak
box office performance of the movie "Mr. Peabody & Sherman".
Shares of the Hollywood studio were down 1 percent in
extended trading on Tuesday, after falling as much as 6 percent
immediately after the results were released.
Three of DreamWorks' last four movies have had weak box
office returns and the company has so far taken charges totaling
about $157.5 million, more than its revenue in the quarter ended
The studio, which made the popular "Shrek" and "Kung Fu
Panda" series, is aiming to make sequels as they require less
advertisement costs and their international ticket sales often
exceed those of their predecessors.
DreamWorks bad run at the box office started with the
release of "Rise of the Guardians" in late 2012. That was
followed by weak results for "Turbo" last year and continued
with "Mr. Peabody & Sherman", a time-travel comedy about a
talking genius dog and the boy he adopts, released in March.
While the box office results of "Mr. Peabody & Sherman" and
"Turbo" were similar, the former had higher production costs and
the latter was helped by a larger consumer products and
licensing program, Chief Financial Officer Lew Coleman said on a
As of last weekend, "Mr. Peabody & Sherman" had grossed
about $260.8 million worldwide, according to Box Office Mojo, a
website that tracks theater ticket sales.
DreamWorks reported a net loss of $42.9 million, or 51 cents
per share for the first quarter, due to a $57 million charge for
"Mr. Peabody & Sherman". The studio earned $5.6 million, or 7
cents per share, a year earlier.
The movie contributed revenue of $3 million to total revenue
of $147.2 million in the quarter. Analysts were expecting
revenue of $137.2 million, according to Thomson Reuters I/B/E/S.
DreamWorks' hopes now rest on the June release of "How to
Train Your Dragon 2" - a sequel that picks up five years after
the protagonist "Hiccup" and his dragon "Toothless" united
Vikings and dragons on Berk Island.
The studio's upcoming slate of movies include "Dragons" 2
and 3, "The Penguins of Madagascar", "Kung Fu Panda 3" as well
as sequels to "Puss in Boots".
DreamWorks said it would release "The Croods" - a film that
tracks a prehistoric family's road trip and the company's only
successful movie in the past year - in international pay TV
markets in the current quarter.
Shares of the company closed at $26.37 on the Nasdaq on
(Reporting By Lehar Maan in Bangalore; Editing by Ted Kerr and