DreamWorks Delivers Outstanding Fourth Quarter And Year-End 2015 Results Highlighted By Strong Growth Across Core Business Segments

 

DREAMWORKS ANIMATION SKG, INC.

CONSOLIDATED STATEMENTS OF OPERATIONS

(Unaudited)



Three Months Ended


Year Ended


December 31,


December 31,


2015


2014


2015


2014


(in thousands, except per share amounts)

Revenues

$

319,335



$

234,244



$

915,863



$

684,623










Operating expenses (income):








Costs of revenues

168,816



345,379



526,286



681,113


Selling and marketing

12,222



32,918



43,640



61,252


General and administrative

89,740



108,620



332,736



262,013


Product development

1,195



3,632



4,655



5,217


Change in fair value of contingent consideration



(6,825)





(16,500)


Other operating income

(3,037)



(1,767)



(7,893)



(8,429)


Operating income (loss)

50,399



(247,713)



16,439



(300,043)










Non-operating income (expense):








Interest expense, net

(5,631)



(4,769)



(23,334)



(11,866)


Other income (expense), net

494



(17,730)



(9,650)



(14,361)


Decrease (increase) in income tax benefit payable to former stockholder

3,228



253,623



(17,673)



253,861


Income (loss) before loss from equity method investees and income taxes

48,490



(16,589)



(34,218)



(72,409)










Loss from equity method investees

5,868



5,869



15,491



13,808


Income (loss) before income taxes

42,622



(22,458)



(49,709)



(86,217)


(Benefit) provision for income taxes

(2,387)



239,383



4,255



222,104


Net income (loss)

45,009



(261,841)



(53,964)



(308,321)


Less: Net income attributable to non-controlling interests

2,936



1,378



842



1,293


Net income (loss) attributable to DreamWorks Animation SKG, Inc.

$

42,073



$

(263,219)



$

(54,806)



$

(309,614)










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








Basic net income (loss) per share

$

0.49



$

(3.08)



$

(0.64)



$

(3.65)


Diluted net income (loss) per share

$

0.48



$

(3.08)



$

(0.64)



$

(3.65)


Shares used in computing net income (loss) per share








Basic

86,145



85,392



85,841



84,771


Diluted

87,375



85,392



85,841



84,771



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