Propelled by a movie about a clown fish that could, Pixar’s earnings surged 87 percent in its fiscal second quarter, Pixar reported Thursday.
“While crowing about ‘Finding Nemo,’ which grossed about $260 million worldwide during the period (The film’s U.S. box office receipts recently surpassed Disney’s 1994 ‘The Lion King,’ the previous top-ranked animated film; ‘Nemo’ has grossed $374 million worldwide since its initial release May 30), Pixar warned analysts against using the film as a benchmark for future productions.”
“‘Nemo’s performance is a once-in-a-lifetime experience, so please don’t expect it again,’ said Pixar chief executive and Apple Computer founder Steve Jobs,” reports Kelly Zito for the San Francisco Chronicle.
“Pixar’s profits increased to $19.5 million in the three months ended June 30, or 34 cents per share, versus $10.4 million, or 20 cents, in the year-ago period, the firm said in an earnings statement released after the close of trading. Revenues jumped to $48.9 million up from $22.8 million in the second quarter of 2002, due to ‘Nemo’ ticket sales as well as better-than-expected sales of its patented RenderMan software, which adds light, color and shading effects to computer-generated 3-D images. The results far outpaced analyst estimates. Analysts surveyed by Thomson First Call had forecast earnings of 22 cents per share,” Zito reports.
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