Pixar Updates 2nd Quarter Via Incredible Sales Slip
Pixar Animation Studios announced an update to its fiscal second quarter 2005 guidance, following a review of the most current domestic and international home video sales data for THE INCREDIBLES. The company is updating its second quarter home video projections to increase its reserves for returns. As a result, Pixar is modifying its earlier projection of roughly $0.15 per diluted share for the quarter ending July 2, 2005, to approximately $0.10 per diluted share, which equates to around a $6 million difference in net income.