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If we were grading studios on the basis of explosions per foot of film, Paramount Pictures would be at the head of the class.

If we were grading studios on taking bold risks with old material as well as new stories, Paramount would certainly be near the top of the list.

And if we were grading studios on summer misfires, well, you guessed it—Paramount would be right there as well.

It was just that kind of summer for the studio, which got the season started on the right note with J.J. Abrams’ smart and successful take on the Star Trek franchise. The film jump started a dead series, virtually ensuring Paramount (CAUTION: Geek reference ahead) a Lithium crystal mine that will last for years.

Star Trek pulled in $257 million domestically and $382 million worldwide according to Rentrak.

Speaking of franchises, Paramount unveiled the second of the films based on the popular Transformers toys.

Transformers: Revenge of the Fallen, was directed by Michael Bay, who seems to have boiled down his first take on the toy story to its basic essence—action and even more action, pausing now and then for flattering shots of Megan Fox.

The formula worked: the Transformers sequel pulled in a whopping $400 million domestically and an eye-popping $827 million worldwide.

While Paramount is not going to win any Oscars for its second summer toy movie, G.I. Joe: The Rise of Cobra, it did rake in major bucks. The big-screen adaptation of the soldier with the Kung Fu grip, updated to the nifty accelerator suit, grossed $141 million domestically and $260 million worldwide.

While Paramount lit up theaters with its three big budget action films, it tripped up with two other summer offerings.

Imagine That, an Eddie Murphy kids film , garnered poor reviews and had a poor box office showing. The PG-rated effort made only $16 million domestically.

The urban music comedy Dance Flick easily beat Murphy’s latest comedic offering, despite not being a star-studded production. The film, written by the Wayans brothers, found a small niche, grossing $26 million domestically.

Grade: B+