Just Released - 2010 3rd Quarter Results

[lightning509s]

Decreased operating income at our domestic parks was due to higher costs and lower attendance and hotel occupancy, partially offset by higher guest spending. Increased costs reflected labor cost inflation, higher pension and post retirement medical expenses and costs for new guest offerings, including World of Color at Disneyland Resort, partially offset by lower volume-related costs.

Decreased attendance in part reflected an unfavorable impact due to a shift in the timing of the Easter holiday period relative to our fiscal periods. Higher guest spending was primarily due to higher average ticket prices.

Get a clue! Disney losing it's "Mojo!"

 

[trr1]

or could it be the very high unemployment rate?
in june of 2010 Pennsylvania's rate was 9.2 %

 

[Pepper's Ghost]

Funny, they mention that attendance is down, yet they increase prices. Whether attendance is down due to economy or higher pricing, it's counterintuitive to try to entice people to come to their parks by increasing prices.

Coming from a finance person, I think that Easter stuff relative to the timing of the fiscal year can have an affect, but I'm sure it's minimal at best... not even enough to garner a comment about it.

 

[lightning509s]

Frankly, I think the state of the economy and the 10% unemployment figure is holding down travel revenue in general, and even Disney is not immune.

We all know that attendance #'s are through the roof in Disneyland and DCA with all the new offerings and massive annual passholder increases. The drag on attendance has to be WDW. Should we talk about WDW's latest price increase again???

 

[Pumbas Nakasak]

How is it the third qtr?

 

[Pepper's Ghost]

We all know that attendance #'s are through the roof in Disneyland and DCA with all the new offerings and massive annual passholder increases. The drag on attendance has to be WDW. Should we talk about WDW's latest price increase again???

If attendance and revenues are up in CA, then that's really masking an even larger attendance issue at WDW. Because it's one company, they can report on all segments together and hide the fact that attendance might be way down in FL because it's being offset by an increase in attendance in CA.

Of course, that's all assuming that attendance in CA really is up like you've said. I'm not sure if that's perception because of how busy it seems, of if that's factualy based.

 

[Pepper's Ghost]

How is it the third qtr?

Third fiscal quarter I assume. Perhaps their fiscal year starts in Oct just like my client's.

Edit: I just confirmed, it's Disney's 3rd fiscal quarter results.... http://corporate.disney.go.com/news/corporate/2010/2010_0610_q3_announced.html

 

[Pumbas Nakasak]

Third fiscal quarter I assume. Perhaps their fiscal year starts in Oct just like my client's.

Edit: I just confirmed, it's Disney's 3rd fiscal quarter results.... http://corporate.disney.go.com/news/corporate/2010/2010_0610_q3_announced.html

Too used to our reporting Jan to Jan, or April for Tax.

However does this make Universals numbers look a bigger achievement and success for Potter?

 

[lightning509s]

How is it the third qtr?

Go to:

http://corporate.disney.go.com/investors/quarterly_earnings.html

Disney operates under a different reporting schedule than most...

Also take note as to how the "Parks & Resorts" segments sound exactly the same, 2nd Quarter and 3rd Quarter reporting...

 

[Kamikaze]

Funny, they mention that attendance is down, yet they increase prices. Whether attendance is down due to economy or higher pricing, it's counterintuitive to try to entice people to come to their parks by increasing prices.

Coming from a finance person, I think that Easter stuff relative to the timing of the fiscal year can have an affect, but I'm sure it's minimal at best... not even enough to garner a comment about it.

...

Are you serious? Easter is one of their busiest periods. If it falls in 2Q instead of 3Q, you don't think that will change their YTY numbers?
You have to remember: This isn't just 'we made XYZ piles of money'. Its 'this year, we only made XYY compared to XYZ last year'.

 

[lightning509s]

If attendance and revenues are up in CA, then that's really masking an even larger attendance issue at WDW. Because it's one company, they can report on all segments together and hide the fact that attendance might be way down in FL because it's being offset by an increase in attendance in CA.

Of course, that's all assuming that attendance in CA really is up like you've said. I'm not sure if that's perception because of how busy it seems, of if that's factualy based.

Here are the #'s:

While attendance is up solidly, most of the gain is being attracted to and held by DCA instead of Disneyland. A look at a sampling of average attendance figures for both parks thus far demonstrates this change perfectly;

Summer 2009 In-Park Sample Attendance​

Summer 2010 In-Park Sample Attendance​

Disneyland 2PM – 36,000 Disneyland 2PM – 37,000 DCA 2PM – 11,000 DCA 2PM – 16,000 Disneyland 9PM – 39,000 Disneyland 9PM – 37,000 DCA 9PM – 10,000 DCA 9PM – 20,000

 

[CaptainJackNO]

Decreased operating income at our domestic parks was due to higher costs and lower attendance and hotel occupancy, partially offset by higher guest spending. Increased costs reflected labor cost inflation, higher pension and post retirement medical expenses and costs for new guest offerings, including World of Color at Disneyland Resort, partially offset by lower volume-related costs.

Decreased attendance in part reflected an unfavorable impact due to a shift in the timing of the Easter holiday period relative to our fiscal periods. Higher guest spending was primarily due to higher average ticket prices.

Get a clue! Disney losing it's "Mojo!"

Ummmm, the third quarter doesn't end until September 30. Impossible for the 3rd quarter results to be in considering we are right in the middle of the 3rd quarter, right now........:shrug:

 

[lightning509s]

Ummmm, the third quarter doesn't end until September 30. Impossible for the 3rd quarter results to be in considering we are right in the middle of the 3rd quarter, right now........:shrug:

Uh...Research alittle perhaps???:
Disney 3Q profit soars on ESPN, studio gains

 

[wm49rs]

Ummmm, the third quarter doesn't end until September 30. Impossible for the 3rd quarter results to be in considering we are right in the middle of the 3rd quarter, right now........:shrug:

The Federal Goverment and many companies have fiscal calendars that start October 1....

 

[DisneyParksFan1]

I hope WDW gets a hint!

 

[wizards8507]

The Federal Goverment and many companies have fiscal calendars that start October 1....

Yep... You can start your fiscal year whenever you feel like it, as long as it's consistent. Most companies are on a calendar year convention but others are free to choose whenever they want when they incorporate.

 

[wm49rs]

Here's another article:

http://cnnmoney.mobi/wk_snarticle?a...walt_disney_earnings:1&category=cnnm_business

 

[flynnibus]

Ummmm, the third quarter doesn't end until September 30. Impossible for the 3rd quarter results to be in considering we are right in the middle of the 3rd quarter, right now........:shrug:

It's called FISCAL year vs Calendar year. Fiscal Years don't have to align with the calendar year.

 

[Horizons1]

Here are the #'s:

While attendance is up solidly, most of the gain is being attracted to and held by DCA instead of Disneyland. A look at a sampling of average attendance figures for both parks thus far demonstrates this change perfectly;

Summer 2009 In-Park Sample Attendance​

Summer 2010 In-Park Sample Attendance​

Disneyland 2PM – 36,000 Disneyland 2PM – 37,000 DCA 2PM – 11,000 DCA 2PM – 16,000 Disneyland 9PM – 39,000 Disneyland 9PM – 37,000 DCA 9PM – 10,000 DCA 9PM – 20,000

Shouldn't you credit the article on MiceAge you ripped this from?

 

[_Scar]

Coming back from WDW, theyre still packed even if #'s are down!


They must've had some great years because even in their slump they have millions of guests coming back each year.