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(Dreamworks article updated with additional information on 'Shrek' box office results.)

Glendale, Calif. (

TheStreet

) --

DreamWorks Animation

(DWA)

saw earnings surge during the third quarter, driven by the international box office success of

Shrek Forever After

. The movie has become the company's highest grossing international release of all time.

For the quarter ended September 30, the company saw a triple digit gain in earnings to $39.8 million, or 47 cents per diluted share, compared with earnings of $19.6 million billion, or 23 cents per diluted share, in the same period a year ago. Earnings were well ahead of analyst estimates of 35 cents a share.

Revenue rose 39.4% to $188.9 million from $135.4 million during the quarter.

"2010 has already been a historic year for the company and we are still looking forward to the theatrical release of

Megamind

on November 5th," CEO Jeffrey Katzenberg said, "as well as home entertainment results from both

How to Train Your Dragon

and

TheStreet Recommends

Shrek Forever After

yet to come this year."

Shrek Forever After

brought in $120.4 million of revenue in the quarter. The film has reached $238 million in domestic box office and $497 million in international box office for a total of $735 million worldwide.

How to Train Your Dragon

has reached approximately $493 million in worldwide box office and was released into the home entertainment market on October 15.

For the first nine months of the year, earnings fell 20.5% to $85.4 million, or 98 cents per diluted share, compared with earnings of $107.5 million, or $1.23 a share, in the same period a year ago.

Revenue fell 4.1% to $509.1 million from $531 million.

Management expects to benefit from consumer product revenue associated with the theatrical release of

Megamind

and domestic network television revenue for

Kung Fu Panda

in the fourth quarter.

-- Written by Theresa McCabe in Boston.

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