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Pixar posts slow fourth quarter

Pixar Animation Studios took a bit of a dip in the fourth quarter while still awaiting the cash flow from their latest blockbuster feature A BUG'S LIFE. The company reported fourth-quarter profits of $1.1M for the period ending January 2, down from $4.4M for the same period in 1997. Quarterly revenues dropped from $7.1M to 3.1M, with revenue generated from sales of services and tools to other producers in Hollywood, as well as proceeds trickling in from their first film TOY STORY (1995). Total year-end profits dropped 65% to $7.8M, or 18 cents per share, in 1998 compared to $22.2M, or 54 cents per share, in '97.