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Disney reports diluted earnings
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15:26, July 31, 2009

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The Walt Disney Co. on Thursday reported diluted earnings per share (EPS) of 51 cents for the third quarter, compared to 66 cents in the year-ago period, down roughly 16 percent when restructuring and impairment charges are factored in.

For the nine-month period, the diluted EPS was 1.29 dollars, compared to 1.87 in the prior-year period.

Operating income in the cable network segment decreased eight percent to 1.1 billion dollars, while operating income in the broadcasting segment dropped 34 percent to 204 million.

Parks and resorts revenues for the quarter decreased nine percent to 2.8 billion dollars, and segment operating income decreased 19 percent to 521 million.

Studio entertainment revenues for the quarter were down 12 percent to 1.3 billion dollars, and segment operating income decreased 109 million for a loss of 12 million.

Consumer products revenues for the quarter decreased 10 percent to 510 million dollars and segment operating income dipped 37 percent to 96 million.

Interactive media revenues for the quarter were down 20 percent to 113 million dollars, while segment operating results improved from a 91-million-dollar loss in the prior-year quarter to a loss of 75 million in the current quarter.

"While a tough global economy impacted our performance in the quarter, we remain encouraged by the relative strength of our business," said Disney President and CEO Robert A. Iger.

"That strength is the result of Disney's combination of strong brands, consistent business strategy and the steps we've taken to make our businesses more efficient without sacrificing quality," he said.


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