DreamWorks Announces Dragon Sequel, 1Q Results

DreamWorks Animation announced it plans a sequel to How to Train Your Dragon in its quarterly results announcements.

Financially, the studio reported a profits were down 65 percent in the first quarter versus a year ago ‘ an expected result given the studio had no holiday movie release to drive sales in the first quarter of this year.

The details show the studio earned a profit $21.7 million on revenues of $162.1 million, up from a $62 million profit on $263 million in revenues in 2009.

Chief executive Jeffrey Katzenberg said the second quarter was off to a strong start with the success of Dragon, which started softly but has performed well earning $375 million at the domestic box office. A sequel to the film will be released in 2013, he said.