Apple CEO Steve Jobs' other company, Pixar, has released its third-quarter financial results.

The company delivered lower year-on-year earnings, but raised its profit forecast for the year. The company's net income for the third quarter was $6.17 million, down from $8.82 million in the same quarter last year. Revenue fell to $11.3 million from $17.3 million. Income from Pixar's movies fell in the quarter.

Its most recent animated movie, Monsters, Inc., was released last week in the US. The movie has already drawn $70 million.

Jobs explained: "We're getting better at tapping into revenues from the film library."