Pixar Q4 Down but Tops Street

(Hollywood Reporter) – Pixar Animation Studios, which Tuesday reported its quarterly earnings probably for the last time before becoming part of the Walt Disney Co., beat its own guidance and the expectations of Wall Street analysts. Leaning heavily on home video and worldwide TV rights to "Finding Nemo" as well as on consumer products and global DVD sales of "The Incredibles," Pixar posted a fourth-quarter profit of $30.9 million on $55.6 million revenue. While down from year-ago results of $55.2 million earned on $108.9 million revenue, analysts had expected Pixar to post earnings of only $20.8 million on $44.7 million in revenue. Library results, driven by the international DVD releases of "Toy Story" and its sequel, amounted to $19.1 million for the quarter. The lower overall quarterly results – when compared with last year – can be traced back to Pixar's decision to move the release of "Cars," originally scheduled for No-vember, to June. In announcing the changed release date late in 2004, Pixar said that its family-friendly, computer-generated films could earn more money by racking up ticket sales during the summer and DVD sales at Christmastime. The fourth quarter capped what CEO Steve Jobs called Pixar's "most profitable year ever." The company earned $152.9 million last year, up from $141.7 million in 2004. Revenue last year was $249.7 million, up from $243.6 million in 2004.