Disney profit up on parks

[Loomis]

http://today.reuters.com/investing/Fina ... -EARNS.xml

"LOS ANGELES (Reuters) - Walt Disney Co. (DIS.N: Quote, Profile, Research) on Monday posted a 7 percent rise in first-quarter profit as revenue from the new Hong Kong Disneyland theme park and the 50th Anniversary promotion of the original Disneyland made up for movie studio softness".
[...]
"From the standpoint of earnings, (Disney is) clearly outperforming," Rich Greenfield of Pali Research said. "The main place was in theme parks where clearly the 50th anniversary, and the revenues and profits coming in from Asia made a difference in the quarter."

and...

The Walt Disney Company Reports Higher First Quarter Earnings

http://home.businesswire.com/portal/sit ... ewsLang=en

"The Company reported operating income growth at Parks and Resorts, Media Networks and Consumer Products, offset by lower results at Studio Entertainment"
[...]
" Parks and Resorts

Parks and Resorts revenues for the quarter increased 13% to $2.4 billion and segment operating income increased 51% to $375 million. Operating income growth reflected increases at both our domestic resorts, led by the on-going success of the 50th anniversary celebration at Disneyland, and our partially-owned international resorts".

Domestic Resorts

Operating income growth at our domestic resorts was primarily due to increased guest spending and attendance, continued strong sales at Disney's Vacation Club and higher hotel occupancy. Higher guest spending was driven by increased ticket prices and merchandise sales at the theme parks and a higher average daily hotel room rate. Increased attendance for the quarter was driven by the celebration of the 50th anniversary of Disneyland at both domestic resorts.

This growth was partially offset by higher operating expenses due to increased volumes and increased costs associated with new guest offerings, such as Disney's Magical Express at the Walt Disney World Resort and new attractions for the 50th anniversary celebrations.

International Resorts

Operating income growth at our international resorts reflected the first full quarter of theme park operations at Hong Kong Disneyland, and increased attendance, guest spending and hotel occupancy at Disneyland Resort Paris.
[...]
"The decrease in capital expenditures is primarily due to lower spending at Hong Kong Disneyland reflecting substantial completion of the initial phase of the park in late fiscal 2005, as well as lower spending at our domestic theme parks on new guest attractions, including those related to the Disneyland 50th anniversary celebrations".

[MikeyMouse]

Good news for stockholders! Shares are up $1.74 so far today!

[Loomis]

Meanwhile, Japan's Oriental Land Co - the operator of Disneyland and DisneySea in Tokyo - has seen a drop.

Japan Disneyland firm Oriental reports profit fall

http://today.reuters.com/investing/fina ... DISNEY.XML

"TOKYO, Feb 9 (Reuters) - Japan's Oriental Land Co. (4661.T: Quote, Profile, Research), operator of the Tokyo Disney resorts, reported a 9 percent decline in nine-month net profit on Thursday, reflecting a fall in visitor numbers, but it kept its full-year outlook.

The company said its net profit totalled 16.54 billion yen ($139.6 million) in the April-December period, against 18.19 billion yen a year earlier. The company also said it was hurt by increased costs from offering special events for longer periods.
[...]

The full-year outlook is lower than nine-month earnings because the Tokyo Disney resorts -- Disneyland and the adjacent DisneySea -- usually draw fewer visitors in the colder months of the fourth quarter.

Sales rose 0.6 percent to 257.85 billion yen, helped by the addition of a new hotel..."