Disney enjoys "excellent" first quarter - Licensing.biz

Disney enjoys "excellent" first quarter

Consumer products revenues up 24 per cent, driven by the strength of Toy Story and Marvel.
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The Walt Disney Company has reported its earning for its first fiscal quarter ending January 1st 2011 - with net income up 54 per cent to $1,302 million.

In terms of consumer products, revenues for the period increased 24 per cent to $922 million, while segment operating income increased 28 per cent to $312 million.

The increase was primarily due to higher licensing revenue, driven by the strength of Toy Story and the inclusion of Marvel, as well as comparable store sales growth and improved margins at the Disney Store North America.

Elsewhere, interactive media revenues increased by 58 per cent to $349 million (although segment operating results decreased by $3 million to a loss of $13 million); studio entertainment revenues were essentially flat at $1.9 billion, while segment operating income was up 54 per cent to $375 million.

"We had an excellent first quarter, driven by strong creative content and our unique ability to leverage great entertainment across the many platforms, businesses and markets in which we operate," said Robert Iger, president and CEO. "With net income up 54 per cent, it's a great start to a new fiscal year."

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