Sluggish Q3 at DreamWorks Animation

DreamWorks Animation is hoping 'Puss in Boots' will help the studio claw out of its gloomy third quarter.DreamWorks Animation is putting a lot on the shoulders of "Puss in Boots": The toon studio, which has been without a major release in theaters since "Kung Fu Panda 2" in May, is hoping the "Shrek" spinoff can make up for a sluggish third quarter, during which profits fell to $19.7 million and revenue came in at $160.8 million.Results are down from the three-month period that ended Sept. 30 a year ago, when profits came in at $39.7 million on revenue of $188.8 million."Kung Fu Panda 2," which was released on May 26, generated $39.4 million in revenue during the quarter. Film is the top animated pic at the worldwide B.O. so far this year with $664 million. "Megamind" contributed $25.8 million in revenue during the quarter, driven primarily by domestic pay TV sales. It's sold 4.6 million homevid units through the end of the third quarter.The rest of the coin was earned from international pay TV and homevid sales on "Shrek Forever After" ($15 million) and "How to Train Your Dragon" ($9.2 million). Each film has moved 9 million homevid units.Library and other items brought in revenue of $71.4 million during the quarter, including $18.8 million from nonfilm businesses, like TV shows and stage shows."DreamWorks Animation's financial results tend to fluctuate due to, among other factors, the timing of our feature-film releases and the number of our films in any given year," said DWA president and chief financial officer Lew Coleman. With a distribution deal at Paramount Pictures winding down at the end of 2012, DreamWorks Animation announced early Tuesday that it has hired Disney distribution vet Chuck Viane as a consultant to consider distribution opportunities for the company with another studio or possible self-distribution as an independent studio."Chuck is one of the smartest, most experienced and respected leaders in the industry, and I don't know of anyone with a deeper understanding of the movie landscape, its trends and its future," Katzenberg said. "At this strategic moment in time for DreamWorks Animation, I am confident that he will serve as an invaluable resource.''Viane retired from the Walt Disney Co. after 25 years. He left as president of global distribution for Walt Disney Studio Motion Pictures. "I've known Jeffrey Katzenberg for 26 years, and he was a close colleague of mine during our time together at Disney,'' Viane said. "Under his leadership, I believe that DreamWorks Animation has truly become a studio for the 21st century, and I look forward to helping shape their future distribution strategy.''Viane also previously served as VP and head buyer for General Cinema Theater Corp.The Viane news was first reported by the Los Angeles Times. Contact Marc Graser at marc.graser@variety.com