Pixar Q4 Profit Falls7 Mar, 2006 By: Erik Gruenwedel
Residual DVD sales, television and consumer licensing rights for The Incredibles and Finding Nemo were not enough, as Pixar Animation Studios posted a 44% decline in net income for the fiscal 2005 fourth quarter (ended Dec. 31).
Emeryville, Calif.-based Pixar, which likely reported its final financial report after agreeing in January to be acquired by the Walt Disney Co. for $7.4 billion, posted profit of $30.9 million on revenue of $55.6 million. The company reported income of $55.2 million on revenue of $108.9 million during the same period last year.
Pixar, which will release the much-anticipated Cars theatrically in June, posted fiscal year profit of $152.9 million, up slightly from $141.7 million during the same period last year. Revenues for the year were $289.1 million, compared to $273.5 million.
Individually, Finding Nemo generated $22.6 million in worldwide TV licensing and home video, followed by The Incredibles, with $10.2 million. The domestic DVD re-release of Toy Story 2 and international DVD re-releases of Toy Story and Toy Story 2 generated about $19.1 million in revenue.
Pixar CEO Steve Jobs didn't hold the usual investor call and instead thanked shareholders for their decade-long support in a statement.