DREAMWORKS ANIMATION SKG, INC. | |||||||
CONSOLIDATED STATEMENTS OF OPERATIONS | |||||||
(Unaudited) | |||||||
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Three Months Ended |
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Nine Months Ended | ||||
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September 30, |
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September 30, | ||||
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2014 |
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2013 |
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2014 |
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2013 |
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(in thousands, except per share amounts) | ||||||
Revenues |
$ 180,861 |
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$ 154,549 |
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$ 450,379 |
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$ 502,633 |
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Operating expenses (income): |
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Costs of revenues |
103,719 |
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86,639 |
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335,734 |
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293,406 |
Selling and marketing |
8,790 |
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6,935 |
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28,334 |
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21,128 |
General and administrative |
54,957 |
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45,869 |
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153,393 |
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136,206 |
Product development |
434 |
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455 |
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1,585 |
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2,487 |
Change in fair value of contingent consideration |
(4,955) |
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- |
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(9,675) |
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- |
Other operating income |
(2,673) |
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(3,333) |
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(6,662) |
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(6,192) |
Operating income (loss) |
20,589 |
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17,984 |
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(52,330) |
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55,598 |
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Non-operating income (expense): |
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Interest (expense) income, net |
(2,840) |
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(769) |
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(7,097) |
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871 |
Other income, net |
298 |
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2,847 |
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3,369 |
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4,889 |
(Increase) decrease in income tax benefit payable to former stockholder |
(2,384) |
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(283) |
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238 |
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(1,352) |
Income (loss) before loss from equity method investees and income taxes |
15,663 |
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19,779 |
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(55,820) |
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60,006 |
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Loss from equity method investees |
1,212 |
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2,781 |
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7,939 |
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4,110 |
Income (loss) before income taxes |
14,451 |
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16,998 |
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(63,759) |
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55,896 |
Provision (benefit) for income taxes |
2,587 |
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6,919 |
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(17,279) |
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17,455 |
Net income (loss) |
11,864 |
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10,079 |
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(46,480) |
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38,441 |
Less: Net (loss) income attributable to non-controlling interests |
(64) |
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15 |
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(85) |
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547 |
Net income (loss) attributable to DreamWorks Animation SKG, Inc. |
$ 11,928 |
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$ 10,064 |
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$ (46,395) |
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$ 37,894 |
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Net income (loss) per share of common stock attributable to DreamWorks Animation SKG, Inc. |
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Basic net income (loss) per share |
$ 0.14 |
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$ 0.12 |
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$ (0.55) |
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$ 0.45 |
Diluted net income (loss) per share |
$ 0.14 |
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$ 0.12 |
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$ (0.55) |
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$ 0.45 |
Shares used in computing net income (loss) per share |
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Basic |
84,646 |
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83,631 |
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84,562 |
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83,939 |
Diluted |
85,845 |
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85,353 |
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84,562 |
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85,041 |