Announcement

Collapse
1 of 3 < >

MiceChat Knott's Scary Farm Event

Tickets for MiceChat's annual Knott's Scary Farm meetup are now on sale. Event info can be found here - scaryfarm2017.eventzilla.net
2 of 3 < >

Tom Chaney Memorial Debate Lounge

The Tom Chaney Memorial Debate Lounge has been opened. You can find it in the Lounges section.

All MiceChat rules still apply, and all posts will be heavily scrutinized.

The forum is for topics that are Disney-related, but controversial. Topics not directly related to Disney will not be allowed.
3 of 3 < >

Registrations

All new user registrations require email verification. Please make sure that micechat.com is not blocked by your SPAM filter. Approvals are done at least once per day, but no approval will be given for accounts that have not verified their email address. No account created using anonymous services will be approved. These include proxies, VPN's, and Tor exit nodes. IP address reputations are also checked. Any IP address with questionable reputation will be banned and the registration denied.
See more
See less

Pixar Cuts Earnings Target on Slow DVD Sales - Reuters 07/01/05

Collapse

Ad Widget

Collapse
This topic is closed.
X
X
  • Filter
  • Time
  • Show
Clear All
new posts

  • Pixar Cuts Earnings Target on Slow DVD Sales - Reuters 07/01/05

    Article from Reuters - July 1, 2005
    Pixar Cuts Earnings Target on Slow DVD Sales

    LOS ANGELES (Reuters) - Pixar Animation Studios (PIXR.O: Quote, Profile, Research) on Thursday cut its forecast for current-quarter earnings by a third after slower-than-expected DVD sales of its hit "The Incredibles." Its stock dropped 10 percent in after-hours trading.

    The Pixar warning followed a similar disclosure in May by rival DreamWorks Animation SKG (DWA.N: Quote, Profile, Research), which stunned investors by reporting first-quarter DVD and video sales for "Shrek 2" that fell far short of the company projections.

    One analyst said retailers were keeping DVDs on shelves for shorter periods of time, leading to a sharp drop-off in sales after an initial burst, a pattern similar to the way major releases tend to make their money at theater box offices.

    Pixar Chief Financial Officer Simon Bax told analysts that the shortfall included both domestic and international markets and showed no apparent pattern. He declined to comment on any similarities between DreamWorks and Pixar.

    "We are now expecting worldwide unit sales to be around 7 percent below where we estimated they would be at the end of the second quarter," Bax said, referring to "The Incredibles," an animated tale of a superhero family.

    Pixar cut its forecast for diluted earnings per share for the fiscal second quarter to 10 cents from 15 cents. That translates to a difference in net earnings of about $6 million for the quarter ending July 2, the company said.

    Bax said Pixar decided to increase its reserves against potential returns after reviewing data from distributor Walt Disney Co. (DIS.N: Quote, Profile, Research)

    "The Incredibles" DVD has posted gross worldwide revenue of $450 million since its release in November and is the best-selling home video so far in 2005.

    Pixar Chief Executive Steve Jobs said the company expected "The Incredibles" to generate home video revenues similar to that of "Monsters Inc."

    Jobs said the company was "disappointed to miss our guidance this quarter," adding that the revision came during a "trough" period for Pixar when low revenue triggered the requirement to report a relatively small deviation.

Ad Widget

Collapse
Working...
X