DreamWorks revenue slumps, takes charge as "Turbo" underperforms
Credit: Reuters/Gustau Nacarino
(R-L) Voice cast actors Ryan Reynolds, Snoop Dogg, also known as Snoop Lion, and Samuel L. Jackson pose during the world premiere photocall of their animated movie ''Turbo'' in Barcelona June 25, 2013.
The company reported net income of $17.3 million, or 20 cents per share in the fourth quarter, compared with a loss of $82.7 million, or 98 cents per share, a year earlier.
Revenue fell 22.8 percent to $204.3 million.
The latest quarter results included an impairment charge of $13.5 million, or 12 cents per share, due to poor performance of 'Turbo' during the last two months of the quarter.
'Turbo' is an animated movie about a garden snail that races in NASCAR and was released on July 17.
(Reporting By Lehar Maan in Bangalore; Editing by Savio D'Souza)
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