 |
 |
Disney/Pixar's "A Bug's Life" Climbs To $358 Million in Worldwide Box Office; Becomes One of The Top-Grossing Animated Releases of All Time
Point Richmond, CA -- May
4, 1999 -- The blockbuster animated hit, "A Bug's Life," a Walt
Disney Pictures presentation of a Pixar Animation Studios film, has climbed
to $358 million in worldwide box office receipts to become one of the
top-grossing animated films of all time, it was announced today (5/4)
by Richard Cook, chairman of The Walt Disney Motion Pictures Group, and
Steve Jobs, CEO of Pixar. With its domestic gross of $163 million, the
film has already become the fourth biggest animated feature released in
the U.S. (behind "The Lion King," "Aladdin" and "Toy
Story"). Internationally, "A Bug's Life" has a gross-to-date
of $195 million and has set records in the United Kingdom, Mexico, Colombia,
Thailand and Hong Kong. Directed by Pixar's John Lasseter and co-directed
by Pixar's Andrew Stanton, the film marked its domestic release on home
video and DVD on April 20th and continues to be the #1 title -- sales
and rental -- in the marketplace.
"'A Bug's Life' has matched
the blockbuster success of 'Toy Story' and will soon surpass it in worldwide
box office receipts," said Jobs. "The overwhelming success of
the film with moviegoers around the world inspires us as we work hard
on 'Toy Story 2' for release this November."
Cook added, "Moviegoers
all over the world have embraced 'A Bug's Life' and made it one of the
most popular animated films of all time. John and Andrew have created
an outstanding film which is sure to stand the test of time. We are proud
of our continuing association with Pixar and are looking forward to future
successes together."
In addition to becoming the
fourth biggest animated feature ever released in the domestic market,
"A Bug's Life" ranks as the sixth biggest release of all-time
in the U.K. with a gross to date of nearly $47 million. With equally impressive
tallies of $18 million in Germany, $16.9 million in France, $14 million
in Spain, $12.2 million in Australia and $13.7 million in Japan in just
seven weeks, the film continues to be a top draw in the international
markets.
Contacts:
Geoff Ammer
Senior Vice President, Marketing
Buena Vista Pictures Marketing
(818) 560-2210 |
Katherine Singson
Director of Marketing
Pixar Animation Studios
(510) 236-4000 |
|
Pixar Animation
Studios
Condensed Statements of Operations
(in thousands, except per share data)
|
|
| |
Three
Months |
Six
Months |
| |
Ended |
Ended |
| |
July
3,
1999 |
June
27,
1998 |
July
3,
1999 |
June
27,
1998 |
| Revenue: |
| Software |
$
1,240 |
$ 854 |
$
2,814 |
$
1,527 |
| Animation
services |
- |
- |
222 |
171 |
| Film |
12,239 |
2,912 |
13,884 |
6,948 |
| Patent
licensing |
- |
3 |
- |
120 |
| Total
revenue |
13,479 |
3,769 |
16,920 |
8,766 |
|
| |
| Cost
of revenue: |
| Software |
133 |
100 |
431 |
136 |
| Animation
services |
- |
- |
154 |
38 |
| Film |
3,574 |
- |
3,846 |
- |
| Total
cost of revenue |
3,707 |
100 |
4,431 |
174 |
| Gross
profit |
9,772 |
3,669 |
12,489 |
8,592 |
|
| |
| Operating
expenses: |
| Research
and development |
1,320 |
946 |
2,666 |
1,812 |
| Sales
and marketing |
304 |
434 |
652 |
652 |
| General
and administrative |
1,554 |
1,780 |
2,941 |
3,546 |
| Total
operating expenses |
3,178 |
3,160 |
6,259 |
6,010 |
| Income
from continuing operations |
6,594 |
509 |
6,230 |
2,582 |
|
| |
| Other
income, net |
1,793 |
2,162 |
3,658 |
4,562 |
| Income
from continuing operations |
| before
income taxes |
8,387 |
2,671 |
9,888 |
7,144 |
| Income
tax expense |
2,012 |
614 |
2,613 |
1,643 |
| Net
income from continuing operations |
6,375 |
2,057 |
7,275 |
5,501 |
| Income
from discontinued operations, |
| net
of taxes |
67 |
- |
67 |
374 |
|
| |
| Net
income |
$
6,442 |
$
2,057 |
$
7,342 |
$
5,875 |
|
| |
| Basic
earnings per share |
$
0.14 |
$
0.05 |
$
0.16 |
$
0.14 |
| Diluted
earnings per share |
$
0.13 |
$
0.04 |
$
0.14 |
$
0.12 |
|
| |
| Shares
used in computing |
| basic
earnings per share |
46,023 |
43,839 |
45,785 |
43,497 |
| Shares
used in computing |
| diluted
earnings per share |
51,334 |
51,432 |
51,260 |
50,948 |
|
| |
|
Pixar Animation Studios
Condensed Balance Sheets
(in thousands)
|
| |
July
3,
1999 |
January
2,
1999 |
| ASSETS |
|
| Cash and short-term
investments |
$
136,138 |
$
149,048 |
| Receivables,
net |
3,559 |
3,885 |
| Prepaid expenses
and other assets |
4,846 |
4,884 |
| Deferred income
taxes |
13,117 |
988 |
| Capitalized
film production costs |
73,146 |
60,841 |
| Property and
equipment, net |
42,945 |
31,160 |
|
| Total
assets |
$
273,751 |
$
250,806 |
|
|
| LIABILITIES
AND SHAREHOLDERS' EQUITY |
|
| Liabilities: |
| Accounts
and income taxes payable |
$ 2,479 |
$ 2,712 |
| Payable
to Disney |
- |
3,363 |
| Other
accrued liabilities |
8,652 |
8,396 |
| Unearned
revenue |
3,754 |
1,188 |
|
| Total
liabilities |
14,885 |
15,659 |
|
|
| Shareholders'
equity: |
| Common
stock |
237,395 |
220,397 |
| Retained
earnings and other |
21,471 |
14,750 |
|
| Total
shareholders' equity |
258,866 |
235,147 |
|
| Total
liabilities and shareholders' equity |
$
273,751 |
$
250,806 |
|
