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General News: DreamWorks Animation Q1 revenue up 14% - Printable Version

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DreamWorks Animation Q1 revenue up 14% - charger - 05-09-2016

MUMBAI: DreamWorks Animation has reported revenues of $190.4 million for the quarter ended 31 March 2016, representing an increase of 14.4 per cent from the same period in 2015. In addition, DWA reported operating income of $13.8 million and net income attributable to DWA of $13.8 million, or $0.16 per diluted share for the quarter ended 31 March 2016. “I am happy to report another strong quarter of financial results, which I believe reflect continued execution on our strategy of transitioning DreamWorks Animation into a global family entertainment company. I’m excited to be passing the baton to Comcast, as I know they will continue to build on the foundation we’ve established over the past 22 years,” said DreamWorks Animation CEO Jeffrey Katzenberg. On 28 April, US media conglomerate NBCUniversal, a division of Comcast, announced the acquisition of DreamWorks Animation. Under the terms of the agreement, DreamWorks Animation stockholders will receive $41.00 in cash for each share of DreamWorks Animation common stock. The agreement has been approved by the Board of Directors of DreamWorks Animation and Comcast, and the controlling shareholder of DreamWorks Animation has approved the agreement by written consent. The transaction is expected to close by the end of 2016, subject to receipt of regulatory approvals in the US and abroad, as well as the satisfaction of other customary closing conditions. First Quarter Review: DWA’s first quarter revenues of $190.4 million increased by 14.4 per cent versus the prior-year period, driven by performance in the Television Series and Specials, Consumer Products and New Media segments.

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