Pixar Animation Studios announced their financial results for the second quarter ended June 30, 2001. For the quarter, Pixar posted earnings of US$8.8 million, or $0.17 per diluted share. These results compare to earnings of $8 million, or $0.16 per diluted share, in the year-ago quarter. Revenues for the quarter were $16.7 million, compared to $18.3 million in the year-ago quarter. Pixar also announced that it is raising projections for 2001 from the previous range of $0.40 to $0.55, to a new range of $0.50 to $0.58. Film revenues for the second quarter were $14.7 million, which included the first television licensing deal of A BUG'S LIFE to ABC. Pixar CEO Steve Jobs said. "Our first licensing deal for the network television rights to A Bug's Life opens an important new revenue stream and enhances the evergreen value of our film library."