DreamWorks Animation posts 24% jump in profit in third quarter

DreamWorks Animation reported a 24% jump in profits in the third quarter due to the box-office success of “Madagascar 3: Europe’s Most Wanted.�

The Glendale-based animation studio posted net income of $24.4 million, or $0.29 a share, on revenues of $186.3 million, in the quarter ended Sept. 30. That compared with a profit of $19.7 million, or $0.23 per share, on revenues of $160.8 million during the same period in 2011.

DreamWorks Animation Chief Executive Jeffrey Katzenberg said the results stemmed from the “blockbuster international box office success� of “Madagascar 3: Europe’s Most Wanted,� which he said was the fifth-highest-grossing film of the year on a global basis.

Since its June 8 release, the movie has grossed over $216 million at the domestic box office and approximately $503 million internationally.

“Puss In Boots� contributed $44.8 million of revenue to the quarter, driven mainly by domestic and international pay television. “Kung Fu Panda 2� accounted for $9 million of revenue, also mostly from overseas pay television.

The company’s recent acquisition of Classic Media, which closed on Aug. 29, produced approximately $4 million of revenue, primarily from home entertainment.

DreamWorks Animation’s fourth-quarter results are expected to be driven by the continued performance of “Madagascar 3: Europe’s Most Wanted� in the international box office as well as the global home video market. The theatrical release of “Rise of the Guardians� on Nov. 21 is also expected to contribute to the company’s fourth-quarter results.

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