Disney Reports Revenue Increase, Net Income Loss
The Walt Disney Company's revenue for fourth quarter 2008 was up 6 percent to $8.9 billion, but posted a 13 percent loss in net income to $760 million from a bad debt charge for a receivable from Lehman Bros.
Earnings per share for the prior year included gains on the sales of Disney's interests in E! Entertainment and US WEEKLY, favorable adjustments related to prior-year income tax matters, income from the discontinued operations of the ABC Radio business, and an equity-based compensation plan modification charge.