DreamWorks Swings To Q2 Loss

(RTTNews) - DreamWorks Animation SKG, Inc. (DWA) reported a net loss for the second quarter of $15.4 million or $0.18 per share, compared to net income of $22.3 million or $0.26 per share for the year-ago quarter.

The company's second quarter 2014 results were impacted by the reduction of the contingent consideration related to its prior acquisition of AwesomenessTV. The estimated fair value of the contingent consideration was reduced by $7.2 million to $91.8 million and resulted in a gain of $0.09 per share in the quarter.

Total revenue for the second quarter fell to $122.28 million from $213.44 million a year ago.

Analysts polled by Thomson Reuters expected the company to report a loss of $0.02 per share on revenue of $137.86 million for the second quarter.

The company said its third quarter results are expected to be driven mainly by its feature film segment, including How to Train Your Dragon 2's continued performance at the worldwide box office.