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Pixar Profits Up While Down on Disney Sequels

Pixar Animation Studios Inc. will not take a role in The Walt Disney Co.'s production of sequels to Pixar films, said Steve Jobs, ceo of Pixar, during a telephone conference call with analysts regarding Emeryville, California, animation studios financial results for fourth quarter and fiscal year ended January 1, 2005.

Jobs said Pixar had "actively passed" on having a role in producing the sequels to FINDING NEMO and MONSTERS INC., REUTERS reported. Disney's search for a new chief exec to replace the departing Michael Eisner was slowing Pixar's search for a new distribution partner, according to Jobs. Pixar will wait for the naming of a new Disney ceo before deciding whether to renew the companies' successful partnership.

For the year, Pixar earned $141.7 million, or $2.38 per fully diluted share, on revenues of $273.5 million. Earnings for the previous year were $124.8 million, or $2.17 per fully diluted share, on revenues of $262.5 million.

Earnings for the quarter were less, $55.2 million, or $0.91 per fully diluted share, on revenues of $108.9 million, compared to earnings of $83.9 million, or $1.44 per fully diluted share on revenues of $164.8 million, achieved in the fourth quarter of 2003.

"The stellar box office performance of THE INCREDIBLES, combined with the continuing success of FINDING NEMO on home video, has resulted in our most profitable year to date," said Jobs. "Looking ahead, THE INCREDIBLES' DVD will be the one to own when it hits shelves on March 15."

Pixar Animation Studios (www.pixar.com) combines creative and technical artistry to create original stories in the medium of computer animation. Pixar has created six of the most successful and beloved animated films of all time TOY STORY, A BUG'S LIFE, TOY STORY 2, MONSTERS, INC., FINDING NEMO AND THE INCREDIBLES. Pixar has won 16 Academy Awards and its six films have grossed more than $3.2 billion at the worldwide box office to date. The studios next release will be CARS on June 9, 2006.

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