"DreamWorks Animation SKG Inc is looking for green from licensees and retailers who want a piece of its popular ""Shrek"" movie franchise ahead of the 2007 release of ""Shrek the Third,"" a film Wall Street is counting on to boost the studio's fortunes.

At the Licensing 2006 International show in New York this week, DreamWorks was close to getting the number of product licenses it wants for the latest adventures of its lovable green ogre but is still looking for more, said Anne Globe, head of the company's consumer products marketing.

""We have a good portion of the program locked in, but we're still open to additional licensing,"" Globe said. ""We are working ... on the international elements ... and looking for great, key innovative licenses for technology-oriented products.""

The company is also promoting upcoming films ""The Bee Movie,"" created by Jerry Seinfeld and due out in 2007, and ""Kung Fu Panda,"" a 2008 release featuring Jack Black.

Wall Street is pinning hopes for DreamWorks' earnings growth on the release of ""Shrek the Third"" after a rocky year that saw the company's share price drop below its initial public offering price last August following news of a U.S. Securities and Exchange Commission inquiry -- which ended this year without action being taken -- and a large number of retail returns of DVDS.

But the stock has gained nearly 30 percent since last August, partly due to analysts' belief that ""Shrek the Third"" will bring in hefty returns.

Dreamworks does not disclose overall merchandising sales figures, but said that licensing is important to boosting consumer awareness of its films.

""Licensing is a key part of building our DreamWorks brand and making our movies highly anticipated events,"" Globe said.

It can also help extend the life of a film as a revenue driver. Last year, for instance, 2004's ""Shrek 2"" contributed $19.4 million, or about 4.2 percent, to Dreamworks' overall sales, mostly due to merchandising and licensing.

The first two Shrek films grossed $1.4 billion at box offices worldwide, and ""Shrek 2"" was the No. 9 top-grossing film of all time. The company has also sold 90 million DVD and home video units for the two films.

Soleil Research analyst Marla Backer, who attended the licensing show, said DreamWorks' booth ""was continuously crowded,"" probably due to interest in ""Shrek the Third."" She added that the company is hoping to use Shrek's popularity to drum up licensee interest in ""Bee Movie"" and ""Panda.""

""We spoke to several people as they emerged from the (DreamWorks) booth,"" Backer wrote in a note to clients on Wednesday. ""They were enthusiastic about Shrek and expect it to be highly successful.""

Backer has a ""buy"" rating on DreamWorks shares and said she was confident in the company's 2006-2007 film slate.

DreamWorks will roll out its Shrek retail program in May 2007 and add a range of products throughout the summer and ""back-to-school"" season, which will coincide with the release of the ""Shrek the Third"" DVD.

New licensees include Activision Inc, which will produce a new Shrek video game, and MGA Entertainment, the maker of the hip Bratz dolls, to develop a broad toy program.

""Shrek"" licensed products will also include underwear by Sara Lee Corp.; children's sleepwear by Dream Apparel Group; T-shirts, swimwear and sportswear by Bentex Group; plush backpacks and iPod speakers by Accessory Innovations; and watches by Armitron, the company said.

Shares of DreamWorks were up 89 cents, or 3.9 percent, at $23.94 in afternoon trade on the New York Stock Exchange on Wednesday.

Source: Reuters"