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Nemo' Video Sales Buoy Pixar's Q2 Results

5 Aug, 2004 By: Erik Gruenwedel

Home video sales and pay-per-view revenue from Finding Nemo helped Pixar Animation Studios post second-quarter earnings (ended July 3) of $37.4 million, or 63 cents per diluted share, on revenue of $66.3 million, compared to $19.5 million, or 34 cents per diluted share, on revenue of $48.9 million during the same period last year.

Worldwide home video sales of Nemo contributed 17 cents per diluted share in net income, with international home video sales of Monsters, Inc. adding more than $10 million to quarterly revenue.

With Pixar CEO Steve Jobs recuperating from surgery for pancreatic cancer, company officials said they had reached a distribution agreement with video game publisher THQ for Internet and gaming rights for Pixar's four future releases.

Financial details were not disclosed, but officials admitted the deal would be excluded from ongoing negotiations with potential theatrical distributors.

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