DreamWorks cranks up its film production line

Confronted with tough times, most Hollywood studios are shooting fewer movies. Apparently DreamWorks Animation SKG didn’t get the memo.

The Glendale-based company said Thursday that it planned to make an additional film every other year, boosting its biennial output to five from four.

DreamWorks cited improved production capabilities and a more steady track record in recent years with films such as “Madagascar” and “Kung Fu Panda,” addressing concerns among investors about the company’s uneven results in the past.

“We believe we have achieved such a high level of success and consistency in the creative process, we will begin releasing a third movie every other year,” DreamWorks Chief Executive Jeffrey Katzenberg said at a conference in New York.

The studio’s computer-animated films, all of which are produced in 3-D, take about 4 1/2 years to make and cost about $160 million each. But the increased output will lower average production costs by up to 10% by 2011, Katzenberg predicted.

DreamWorks said it would release eight feature films through 2012, including three sequels based on its franchises “Shrek,” “Madagascar” and “Kung Fu Panda.”

Others include “How to Train Your Dragon,” based on the book by Cressida Cowell; “Puss in Boots,” in which Antonio Banderas reprises his popular character from the “Shrek” films; and “The Guardians,” about unlikely heroes “who band together to stop an ancient spirit . . . from plunging the world into eternal darkness,” according to DreamWorks.

The announcement, delivered during a media conference hosted by Cowen and Co., drew a favorable response from Wall Street. DreamWorks shares rose 7 cents to close at $27.23.

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richard.verrier@latimes.com