DreamWorks Animation Delivers Solid Second Quarter 2015 Results With Revenues Increasing 40% To $171 Million And Total Segment Gross Profit Improving 74% To $61 Million Versus Last Year

 

DREAMWORKS ANIMATION SKG, INC.









CONSOLIDATED STATEMENTS OF OPERATIONS









(Unaudited)










 Three Months Ended 


 Six Months Ended 


 June 30, 


 June 30, 


2015


2014


2015


2014


 (in thousands, except per share amounts) 

Revenues

$ 170,782


$ 122,277


$ 337,312


$ 269,518









Operating expenses (income):








Costs of revenues

99,939


75,617


206,104


232,015

Selling and marketing

12,077


13,282


20,552


19,544

General and administrative

80,736


53,228


169,878


98,436

Product development

1,592


611


1,924


1,151

Change in fair value of contingent consideration

-


(7,220)


-


(4,720)

Other operating income

(1,719)


(2,317)


(4,000)


(3,989)

Operating loss

(21,843)


(10,924)


(57,146)


(72,919)









Non-operating income (expense):








Interest expense, net 

(7,564)


(2,484)


(13,898)


(4,257)

Other income (expense), net

2,001


1,853


(3,465)


3,071

(Increase) decrease in income tax benefit payable to former stockholder 

(7,096)


1,695


(7,121)


2,622

Loss before loss from equity method investees and income
      taxes

(34,502)


(9,860)


(81,630)


(71,483)









Loss from equity method investees

2,775


3,467


9,137


6,727

Loss before income taxes 

(37,277)


(13,327)


(90,767)


(78,210)

Provision (benefit) for income taxes 

1,762


2,601


4,162


(19,866)

Net loss

(39,039)


(15,928)


(94,929)


(58,344)

Less: Net loss attributable to non-controlling interests

(456)


(541)


(1,569)


(21)

Net loss attributable to DreamWorks Animation SKG, Inc.

$ (38,583)


$ (15,387)


$ (93,360)


$ (58,323)









Net loss per share of common stock attributable to
      DreamWorks Animation SKG, Inc.








Basic and diluted net loss per share 

$     (0.45)


$     (0.18)


$     (1.09)


$     (0.69)

Shares used in computing net loss per share








Basic and diluted

85,732


84,554


85,674


84,520


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