Actually, I'm sure a lot of pundits have used that one. No matter, you've got to hand it to CEO Jeffrey Katzenberg and his dream team (there I go again!) of animators and producers, because for the first quarter, the studio delivered 71 cents per share on the bottom line. This completely obliterated the year-ago number of 28 cents per share.

If you read through the release, you'll see that there was, on the whole, a net-adjusted benefit of 3 cents per share. So what? Expectations were for 45 cents per share according to Trey Thoelcke's earnings preview. Revenue also beat expectations, coming in at well over $260 million versus the analyst call for a little under $210 million in sales.

Madagascar: Escape 2 Africa and Kung Fu Panda were drivers for the quarter. And older films kicked in some green, too. No, I'm not going to highlight Shrek. Instead, I'll point out that library titles Bee Movie and Flushed Away were still doing their part for shareholders. Yep, content libraries are valuable things.

Now, the new film from DreamWorks Animation, Monsters vs. Aliens, did not really contribute too much. The windfall will come later from the home-video release. Longtime shareholders know that the company has to allow for costs associated with the distribution of the project to be collected before the financial spoils make themselves known.

Now, the one blemish on this otherwise animated earnings story (yes, I've used that one before, too) can be found in the statement of cash flows. Net cash from operations dropped 60%. Changes in working capital helped to drive the decline. Oh well. I wouldn't worry about it right now. It's only the first quarter, and while I hate to see cash flow go down, I can honestly say that, in this case, it doesn't mean the end of DreamWorks Animation is near. I won't let it spoil the earnings high.

The stock rallied in the after-hours markets on Tuesday. Shares were higher by over 14%. If that rally carries on through Wednesday, and if you just recently bought DreamWorks Animation with the intention of holding it only for a relatively brief period, then consider selling it. Appreciate the gift you've been given! If you are a long-term shareholder, then simply be happy about this performance and expect volatility (the stock can be volatile at times); add on the dips, maybe. Again, this was a great quarter. Good job, Jeffrey!

Disclosure: I own Disney; positions can change without notice.