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Pixar Announces First Quarter 1999 Financial Results

Pixar Animation Studios' revenues for the first quarter were $3.4 millioncompared with $5.0 million in the first quarter of 1998. Net income for thefirst quarter was $900,000 compared with $3.8 million for the first quarterof 1998. Diluted earnings per share for the first quarter were $0.02compared with $0.08 for the first quarter of 1998.

A BUG'S LIFE has earned $162 million in domestic box office receipts and$190 million in international box office receipts, totaling $352 millionand approaching Toy Story's global box office receipts of $354 million. ABug's Life has now become one of the top five grossing animated films ofall-time. First quarter revenues include a small amount of royalties from ABug's Life interactive products. Under the co-production agreement with TheWalt Disney Company, Pixar's profit sharing from A BUG'S LIFE will commenceupon Disney's recovery of all marketing and distribution fees and costs.Upcoming film releases include TOY STORY 2, which is targeted forrelease this November and Pixar's fourth film, which is currentlytargeted for release in summer 2001.