Disney Q1 Rises 54%
The increase in segment operating income was primarily due to higher licensing revenue, driven by the strength of Toy Story and the inclusion of Marvel, and comparable store sales growth and improved margins at the Disney Store North America. Improved margins at the Disney Store North America reflected benefits from a new global purchasing strategy and improved product offerings.
Interactive Media revenues for the quarter increased 58% to $349 million and segment operating results decreased by $3 million to a loss of $13 million as higher sales of console games were more than offset by the inclusion of results for Playdom in the current quarter, which reflected the impact of acquisition accounting.
Higher console game sales reflected the strong performance of Epic Mickey and Toy Story 3 compared to the prior-year quarter, which included Sing It Pop Hits and Tinker Bell and the Lost Treasure.
OTHER FINANCIAL INFORMATION
Corporate and Unallocated Shared Expenses
Corporate and unallocated shared expenses increased from $72 million to $112 million driven by the timing of expenses and higher compensation related costs.
Restructuring and Impairment Charges and Other Income
The Company recorded $12 million of restructuring and impairment charges in the current quarter and gains on the sale of Miramax and BASS totaling $75 million. The table below shows the pretax and after tax impact of these items.
Pretax Tax After
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Restructuring and impairment charges $ (12 ) $ 31 $ 19
Gains on sales of businesses 75 (107 ) (32 )
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$ 63 $ (76 ) $ (13 )
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