DreamWorks Animation reported a fourth-quarter net loss of $247 million Tuesday, with the company confirming that it intends to sell its Glendale headquarters for $185 million and lease the property back to save money.
The figures come one month after DWA announced its massive restructuring plan, which took a $210.1 million pre-tax toll.
The Q4 shortfall compares with a gain of $17.2 million during the same period a year ago. The under-performance of “Penguins of Madagascar,” a November release that has grossed $82 million domestically and $275 million overseas, also hurt.
DWA reported sales of $234.2 million, up 14.7 percent over the same Oct.