Record DVD sales of Pixar Animation's film Monsters, Inc has swelled the company's coffers by 600 per cent in its third quarter.
Pixar – Apple CEO Steve Jobs’ "other" business interest – posted a profit of $46.9 million, or 87 cents per diluted share, for the quarter ending September 28, compared with $6.2 million, or 12 cents, for the year-ago quarter.
The profit ushers in the company's largest quarterly return to date.
Thrilled Jobs said: "We are thrilled to report the most profitable quarter in Pixar's history.
"Pixar is firing on all cylinders as we look forward to the release of Finding Nemo in 2003, The Incredibles in 2004, and Cars in 2005."
Pixar's revenues rose to $102.5 million from $11.3 million for the quarter. The company has increased full-year earnings guidance to a range of $1.50 to $1.55 per share from $1.25 to $1.35. Pixar's stock has risen 54 per cent this year.
Call A conference call about the company's third quarter 2002 earnings results and fiscal year hosted by Jobs, and Pixar's executive vice president and chief financial officer Ann Mather will be archived until November 7, 2002.
Tom Porter, supervising technical director of Monster's, Inc, spoke about the film to Macworld UK earlier his year. He said: "The film’s core idea was of a big monster and a little child straight off the bat."
He said Jobs' "stands back" from the creative process behind producing the films, then added: "He is respectful of the creative process. Steve has been great from a financial and deal making stand point – but that's it."
Pixar is behind Academy Award-winning animation Toy Story, A Bug's Life, Golden Globe-winner Toy Story 2, and the Academy Award-winning Monsters, Inc.