Two small but important Hollywood company, DreamWorks Animation and Imax, reported quarterly financial results significantly improved on Thursday.
DreamWorks Animation fourth profit jumped 95 percent, to $ 85.2 million while profit at Imax was 54.2 million, up from $ 4 million the previous year. Both companies benefit from hefty tax breaks, so that the results were pretty misleading as a sign of general health.
Despite its growth, DreamWorks Animation has had lately a tough go of things. The sale of tickets for his latest release, "megamind," fell well short of the expectations of investors and DVD sales for "Shrek Forever after" were soft. The company's operating results reflect the operating losses of approximately $ 35 million related to an online virtual world business and touring production of "Shrek: the Musical."
The company takes out plans to release consistently three films animated feature film a year instead of two. "We're going to remain kind of flexible about it", Jeffrey Katzenberg, chief executive of DreamWorks Animation, told analysts on a conference call.
"Today we would probably say no movies before his time," he added.
On a brighter side, Mr. Katzenberg noted that demand for animated film was "robust" and DreamWorks Animation had its biggest year ever at the box office worldwide — about $ 1.6 billion from "How to Train Your Dragon," "Shrek Forever after" and "megamind." Expectations are high for the next release of the company, "kung fu Panda 2", on 26 May.
IMAX benefited from growth in its network of theatres of large format films and the strong presence for Imax screenings of films like "Harry Potter and the Deathly Hallows: part one" and "Tron: Legacy." IMAX 54 Theatre installed systems, up to 38 a year before, in the fourth quarter. The Imax plans next year, to add 80 to 90 new theatres.
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