Steve Jobs’ other company, Pixar Animation Studios, announced its financial results for its fiscal first quarter ending March 30, 2002.
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Pixar reported earnings of US$15.6 million, or $0.30 per diluted share. That’s $7.3 million more than the same quarter last year. Revenues for the quarter were about $37.1 million, again a healthy improvement over last year’s results for the same quarter ($16.2 million).
Film revenues for the quarter were $34.4 million, derived mainly from Monsters, Inc., which the company noted has pulled in about $514 million to date. Last year at this time Pixar’s revenues were riding mainly on the sales of home videos and merchandise associated with Pixar’s properties.
Pixar said that it is raising projections for 2002 earnings per share from the previously stated $1.00 to $1.20 range, to a new range of $1.15 to $1.25.
Pixar CEO Steve Jobs explained the change by saying that 2002 is coming in better than Pixar planned. Jobs pointed out that Monsters, Inc. is the second-highest grossing animated film ever.
“We’re looking forward to releasing the Monsters, Inc. home video in September, and we’re hard at work on our last three films under our current Disney deal,” said Jobs.