tis true...I couldnt get a single DVC room for 2 of 4 weeks in april
using DVC points . cash rooms may be available but ive already paid off
disney and want my free rooms (except for maintenece fees)
I could barely get a room in may either except for saratoga springs.
February 6, 2008
Disney Is Upbeat Despite Economy’s Troubles
By BROOKS BARNES
LOS ANGELES — The Walt Disney Company, reporting fiscal first-quarter results, sought to reassure investors that the weakening economy was not affecting television advertising sales or its robust theme park business.
Because Disney’s theme parks, a $10 billion annual business, have faltered during previous recessions, investors and the press have been scrutinizing their performance for clues about the broader health of the United States economy.
Last week, a Citigroup analyst downgraded Disney to a sell rating, citing potential weakness in the theme parks, but his report prompted other analysts to weigh in with the opposite view.
“We aren’t going to forecast the economy,” said Thomas O. Staggs, Disney’s chief financial officer, in a conference call with analysts on Tuesday. He said that room reservations at Disney’s domestic resorts are running “modestly ahead” through the summer compared with the same time last year. He added, “The ad market strength has continued into our second quarter.”
The comments and quarterly results, released after the market’s close, sent shares up about 5 percent in after-hours trading.
For the first fiscal quarter, which ended on Dec. 29, Disney reported net income of $1.25 billion, or 63 cents a share, a 27 percent decline from $1.68 billion, or 79 cents a share, a year earlier. Last year’s results were helped by several one-time gains, including the sale of interests in Us Weekly and the E Entertainment cable channel.
Revenue rose 9 percent, to $10.45 billion, led by gains in advertising revenue at ABC and ESPN.
Disney, based in Burbank, Calif., has been riding strong results in its four core businesses — television, movies, theme parks and consumer products — since 2004. With the exception of the movie studio, where results ebb and flow depending on which titles are released on DVD, that strength continued.
Operating profit at ABC soared 30 percent, to $322 million, because of higher prime-time advertising revenue, though Disney said the results were dented somewhat by lower ratings. The company’s cable networks recorded a 27 percent increase in operating profit, to $586 million.
At the theme parks, operating profit climbed 25 percent, to $505 million, driven by increases in ticket prices and higher food and merchandise spending. Mr. Staggs said that the struggling Hong Kong resort perked up from a Halloween promotion, but cautioned that recent storms could hurt attendance during the crucial Chinese New Year period.
Robust sales of “Hannah Montana” clothing and “High School Musical” merchandise contributed to a 38 percent rise in operating profit at the consumer products division.
Disney has been trying to convince Wall Street that it stands apart from other media companies because of its ability to profit from its brands and properties across multiple business lines, a message the company’s chief executive, Robert A. Iger, hammered home on Tuesday.
“These results validate our strategic focus,” he said. Pointing out the various ways in which Disney is continuing to mine franchises like “Toy Story,” Mr. Iger said, “We can market far more effectively and efficiently than our competitors.”
using DVC points . cash rooms may be available but ive already paid off
disney and want my free rooms (except for maintenece fees)
I could barely get a room in may either except for saratoga springs.
February 6, 2008
Disney Is Upbeat Despite Economy’s Troubles
By BROOKS BARNES
LOS ANGELES — The Walt Disney Company, reporting fiscal first-quarter results, sought to reassure investors that the weakening economy was not affecting television advertising sales or its robust theme park business.
Because Disney’s theme parks, a $10 billion annual business, have faltered during previous recessions, investors and the press have been scrutinizing their performance for clues about the broader health of the United States economy.
Last week, a Citigroup analyst downgraded Disney to a sell rating, citing potential weakness in the theme parks, but his report prompted other analysts to weigh in with the opposite view.
“We aren’t going to forecast the economy,” said Thomas O. Staggs, Disney’s chief financial officer, in a conference call with analysts on Tuesday. He said that room reservations at Disney’s domestic resorts are running “modestly ahead” through the summer compared with the same time last year. He added, “The ad market strength has continued into our second quarter.”
The comments and quarterly results, released after the market’s close, sent shares up about 5 percent in after-hours trading.
For the first fiscal quarter, which ended on Dec. 29, Disney reported net income of $1.25 billion, or 63 cents a share, a 27 percent decline from $1.68 billion, or 79 cents a share, a year earlier. Last year’s results were helped by several one-time gains, including the sale of interests in Us Weekly and the E Entertainment cable channel.
Revenue rose 9 percent, to $10.45 billion, led by gains in advertising revenue at ABC and ESPN.
Disney, based in Burbank, Calif., has been riding strong results in its four core businesses — television, movies, theme parks and consumer products — since 2004. With the exception of the movie studio, where results ebb and flow depending on which titles are released on DVD, that strength continued.
Operating profit at ABC soared 30 percent, to $322 million, because of higher prime-time advertising revenue, though Disney said the results were dented somewhat by lower ratings. The company’s cable networks recorded a 27 percent increase in operating profit, to $586 million.
At the theme parks, operating profit climbed 25 percent, to $505 million, driven by increases in ticket prices and higher food and merchandise spending. Mr. Staggs said that the struggling Hong Kong resort perked up from a Halloween promotion, but cautioned that recent storms could hurt attendance during the crucial Chinese New Year period.
Robust sales of “Hannah Montana” clothing and “High School Musical” merchandise contributed to a 38 percent rise in operating profit at the consumer products division.
Disney has been trying to convince Wall Street that it stands apart from other media companies because of its ability to profit from its brands and properties across multiple business lines, a message the company’s chief executive, Robert A. Iger, hammered home on Tuesday.
“These results validate our strategic focus,” he said. Pointing out the various ways in which Disney is continuing to mine franchises like “Toy Story,” Mr. Iger said, “We can market far more effectively and efficiently than our competitors.”