Consumer products contributes to record earnings at Disney - ToyNews

Consumer products contributes to record earnings at Disney

Disney's Consumer Products division has seen revenues boosted to $2.2 billion for the year following the success of merchandise for the likes of Cars and Pirates of the Caribbean.
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The division reported revenue growth of three per cent for the year ending September 30th 2006, while segment operating income increased 14 per cent to $618 million.

Revenues for the fourth quarter were up nine per cent to $564 million and segment operating income grew one per cent to $139 million.

The increase at Merchandise Licensing has been mainly attributed to higher earned royalties across multiple product categories, led by the strong performance of Cars, Disney Princess and Pirates of the Caribbean.

There was a decrease at Buena Vista Games, however, which was due to increased product development spending on future self-published titles.

As a whole, The Walt Disney Company posted record revenues, net income and cash flow. Growth was also seen at Studio Entertainment, Parks and Resorts, plus Media Networks.

Bob Iger, president and CEO, said: "Disney had a spectacular year. It is a result of the incredible creativity at our company."

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