The Walt Disney Company (NYSE: DIS) today reported earnings for its fiscal year and fourth quarter ended September 29, 2012. Diluted earnings per share (EPS) for the year increased 24% to $3.13 from $2.52 in the prior year. For the quarter, diluted EPS was $0.68 compared to $0.58 in the prior-year quarter. Excluding certain items affecting comparability as detailed below, EPS for the year increased 21% to $3.07 from $2.54 in the prior year and EPS for the quarter increased 15% to $0.68 from $0.59 in the prior-year quarter.
“Fiscal 2012 was a great year creatively, financially and strategically, resulting in record revenue, net income, and earnings per share,” said Disney Chairman and CEO Robert A. Iger. “The addition of Lucasfilm will further fuel Disney’s creative engine across our company to create additional value for our shareholders and we’re confident the Company is well positioned to continue our strong performance and growth.”
The following table summarizes the fourth quarter and full year results for fiscal 2012 and 2011 (in millions, except per share amounts):
|Year Ended||Quarter Ended|
| Sept. 29,
| Oct. 1,
|Change|| Sept. 29,
| Oct. 1,
|Segment operating income (1)||$||9,964||$||8,825||13||%||$||2,339||$||2,113||11||%|
|Net income (2)||$||5,682||$||4,807||18||%||$||1,244||$||1,087||14||%|
|Diluted EPS (2)||$||3.13||$||2.52||24||%||$||0.68||$||0.58||17||%|
|Cash provided by operations||$||7,966||$||6,994||14||%||$||1,535||$||2,104||(27||)||%|
|Free cash flow (1)||$||4,182||$||3,435||22||%||$||602||$||1,106||(46||)||%|
(1) Aggregate segment operating income and free cash flow are non-GAAP financial measures. See the discussion of non-GAAP financial measures below.(2) Reflects amounts attributable to shareholders of The Walt Disney Company, i.e. after deduction of noncontrolling (minority) interests. EPS for the current year includes a $184 million non-cash gain recorded in connection with the acquisition of a controlling interest in UTV Software Communication Limited (UTV) and a $79 million recovery of a receivable from Lehman Brothers (Lehman) that was written off in 2008 as a result of the Lehman bankruptcy, partially offset by $100 million of restructuring and impairment charges and a $24 million net charge related to the refinancing of Disneyland Paris borrowings (DLP debt charge). These items benefitted EPS by $0.06. The UTV gain, the Lehman recovery and the DLP debt charge were recorded in “Other income/(expense), net” in the Consolidated Statement of Income. EPS for the prior year included $75 million of gains from the sales of Miramax and BASS and $55 million of restructuring and impairment charges. These items had a negative impact on EPS of $0.02.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV