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Last Updated: Tuesday, 2 May 2006, 23:43 GMT 00:43 UK
Dreamworks profits fall on costs
Wallace and Gromit
Wallace and Gromit have become Hollywood stars
Animation firm DreamWorks has seen profits drop as it did not recoup the marketing costs of Shrek 2, and Wallace & Gromit: The Curse of the Were-Rabbit.

Also hurting earnings was a lack of new releases, the company said.

Net profit was $12.3m (6.7m) in the first quarter of 2006, compared with $45.7m a year earlier. Sales in the period slid to $60.1m from $166.9m.

Dreamworks was established by Hollywood heavyweights Steven Spielberg, David Geffen and Jeffrey Katzenberg.

At the end of last year it was bought by Paramount Pictures for $1.6bn.

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