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DreamWorks Earnings Miss Expectations; Shares Skid

DreamWorks Animation reported a sharp drop in earnings that was even worse than expected. Shares fell in after-hours trading.

The companyposted fourth-quarter earnings excluding items of29 cents per share,downfrom 99 cents a share in the year-earlier period.

Revenue was $219 million, a 21-percent decrease from $276 million a year ago.

Analysts had expected the company to report earnings excluding items of 32 cents a share on $207 million in revenue, according to Thomson Reuters.

After the earnings announcement, the company's shares fell in after-hours trading.(Click here for the latest after-hours quote.)