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The Walt Disney Company's Parks and Resorts

revenues increased 10% for Q1 of FY12

Update : 10/02/12 - 12h30 Published by François Mayné the 8 February 2012, Corporate.

The Walt Disney Company reported yesterday earnings for its first fiscal quarter ended December 31, 2011. Diluted earnings per share (EPS) for the quarter increased 18% to $0.80 from $0.68 in the prior-year quarter.

“We’re off to a good start in this fiscal year executing on our ongoing strategy, deriving greater value from our brands – Disney, Pixar, Marvel, ESPN and ABC – in the U.S. and around the globe,” said Disney President and CEO Robert A. Iger. “We are confident that our commitment to creating and providing exceptional family entertainment on multiple platforms continues to position us to deliver longterm shareholder value.”

The following table summarizes the first quarter results for fiscal 2012 and 2011 (in millions, except per share amounts):

The following table summarizes the first quarter results for fiscal 2012 and 2011 (in millions, except per share amounts):

Segment revenues

The following table summarizes the first quarter segment operating results for fiscal 2012 and 2011 (in millions):

Parks and Resorts revenues for the quarter increased 10% to $3.2 billion (about 2.4 billion Euros) and segment operating income increased 18% to $553 million (about 401.6 million Euros). Results for the quarter were driven by increases at our domestic parks and resorts and Disney Cruise Line.

Higher operating income at US domestic parks and resorts was driven by increased guest spending and attendance, partially offset by increased costs. Increased guest spending reflected higher average ticket prices and food and beverage spending. Higher costs reflected labor cost inflation across our domestic parks and resorts, enhancement costs including investments in systems infrastructure and higher employee benefits costs at Walt Disney World Resort, and new guest offerings at Disneyland Resort including the expansion of Disney California Adventure. Higher operating income at Disney Cruise Line was due to a full period of operations of the Disney Dream which launched at the end of January 2011. 4

At the international parks and resorts, higher operating income at Hong Kong Disneyland Resort was offset by lower results at Disneyland Paris. The increase at Hong Kong Disneyland Resort reflected increased guest spending, driven by higher average ticket prices, daily hotel room rates, and food, beverage and merchandise spending, and increased attendance. Lower operating income at Disneyland Paris was driven by labor cost inflation and the absence of real estate sales which occurred in the prior-year quarter, partially offset by increased attendance and guest spending. Higher guest spending at Disneyland Paris was driven by increased average daily hotel room rates.

For more information about The Walt Disney Company's Q1 other segments revenues, other financial information and forward looking statement, please visit corporate.disney.com

Walt Disney Parks & Resorts - Disneyland Resort - Walt Disney World Resort - Euro Disney S.C.A. - Hong Kong Disneyland Resort - Disney Cruise Line -

Written by François Mayné

François Mayné Publishing Director » Contact Us
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