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DreamWorks revenue falls, takes charge for poor "Turbo" performance
February 25, 2014 / 9:21 PM / 4 years ago

DreamWorks revenue falls, takes charge for poor "Turbo" performance

Feb 25 (Reuters) - DreamWorks Animation SKG Inc reported a fall in quarterly revenue as it did not release any major movie in the period and said it took a charge due to the continued poor performance of “Turbo.”

The company reported net income of $17.3 million, or 20 cents per share in the fourth quarter, compared with a loss of $82.7 million, or 98 cents per share, a year earlier.

Revenue fell 22.8 percent to $204.3 million.

The latest quarter results included an impairment charge of $13.5 million, or 12 cents per share, due to poor performance of “Turbo” during the last two months of the quarter.

“Turbo” is an animated movie about a garden snail that races in NASCAR and was released on July 17.

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