met its reduced earnings estimates for the second quarter Thursday but came up light on the top line.
The Emeryville, Calif., animation studio made $12.7 million, or 10 cents a share, for the quarter ended July 2, down from the year-ago $37.4 million, or 32 cents a share. Revenue fell 60% from a year ago to $26.4 million, missing the Thomson First Call analyst consensus estimate by $5 million.
"We're very pleased with the overall performance of
, which is by far the highest-selling DVD in 2005," said Pixar CEO Steve Jobs. "
is almost completed and is looking fantastic, and we have no doubt that it will be one of our best films to date."
The news comes two months after Pixar
slashed second-quarter earnings guidance, citing the same home video retail-return issues that have laid low rival
Investors will be keeping an eye peeled for any developments in Pixar's postclose conference call, on which analysts may inquire about the prospect of a rapprochement with marketing partner
. The companies' arrangement was once given up for dead on Wall Street, given rancor between Jobs and Disney's Michael Eisner, but with Bob Iger now running the show in Burbank, talk has turned to the prospect of a new dawn for the companies.
Late Thursday, Pixar rose 3 cents to $41.28.