Key Developments For DreamWorks Animation SKG, Inc.
DreamWorks Animation SKG, Inc. (DWA.O) (Nasdaq)
DreamWorks Animation SKG Issues Q4, FY 2009 Earnings Outlook Below Analysts' Estimates-Conference Call
DreamWorks Animation SKG announced that for fourth quarter of 2009, it expects to incur a loss. For fiscal 2009, it expects earnings per share (EPS) close to the $1.57 that it reported in fiscal 2008. According to Reuters Estimates, analysts were expecting the Company to report net profit of $38 million for fourth quarter of 2009 and EPS of $1.59 for fiscal 2009.
DreamWorks Animation SKG Authorizes Future Share Repurchases Of Up To $150 Million
DreamWorks Animation SKG announced that its Board of Directors has authorized future share repurchases of up to $150 million. These repurchases may be made in the open market, in block trades or in privately negotiated transactions.
DreamWorks Animation SKG In Pact For Use Of Plane Owned By Steven Spielberg-DJ
Dow Jones reported that DreamWorks Animation SKG said that it has entered into a time sharing agreement for use of an aircraft owned indirectly by Steven Spielberg. Under this agreement, if one of the company's executives uses the aircraft for company business, the company pays an hourly rate equal to two times the fuel cost, plus certain enumerated expenses such as landing fees, crew travel costs and catering.
DreamWorks Animation SKG's DreamWorks Animation LLC Ends License Pact With Studio-DJ
Dow Jones reported that DreamWorks Animation LLC, a wholly owned subsidiary of DreamWorks Animation SKG, has elected to terminate the trademark license agreement with the DreamWorks LLC studio. Under the agreement DreamWorks Animation had previously granted the studio an exclusive, royalty free, fully paid, irrevocable license to use the DreamWorks tradename and trademarks in connection with, among other things, live action motion pictures.
DreamWorks Animation SKG Announces Share Repurchases Authorization
DreamWorks Animation SKG announced an authorization for future repurchases of up to $150 million of its outstanding Class A common stock. These repurchases may be made in the open market, in block trades, or in privately negotiated transactions.
