DreamWorks Animation SKG, Inc. (DWA) is falling during after-hours trading on Tuesday following the release of quarterly results. At 4:29 pm ET the stock is trading at $25.85 down $1.64 from Tuesday's close.
With the decline, the stock stands to open having reversed some recent gains.
The company reported net income of $37.4 million, or $0.41 per share, on revenue of $151.5 million for the third quarter, compared to net income of $47.0 million, or $0.47 per share, on revenue of $160.8 million for the year-ago quarter.
Analysts polled by First Call/Thomson Financial expected the company to earn $0.32 per share on revenue of $130.36 million for the third quarter.
Results for the current year third quarter included a tax benefit of $0.03 per share, attributable to the combination of the Company's tax sharing agreement with a stockholder and finalization of prior year tax returns.
Looking ahead to the remainder of the year, the company said its fourth quarter results are expected to be driven primarily by the home entertainment performance of Kung Fu Panda, which will be released on DVD and Blu-ray domestically on November 9.
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