The Walt Disney Company reported record earnings on Thursday (11/8/2012), for its fiscal year and fourth quarter which ended September 29th. The company saw net income increase 14% thanks to higher consumer spending at its theme parks and the Disney Cruise Line.
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.
Disney Cruise Line is included with the Parks and Resorts financials. For the year Park and Resorts saw $12.9 billion in revenue, a 10% increase over last year. For Q4 revenue was $3.4 billion, a 9% increase.
FY2012 reflected increases at the domestic parks and resorts, Tokyo Disney Resort, Disney Cruise Line and Hong Kong Disneyland Resort, partially offset by a decrease at Disneyland Paris. Operating income growth at Disney Cruise Line was due to increased passenger cruise days driven by the Disney Fantasy and the Disney Dream, partially offset by the related operating costs.
Q4-2012 operating income growth reflected increases at Disney Cruise Line, Hong Kong Disneyland Resort, our new Aulani resort and hotel in Hawaii, and Disneyland Paris. Higher operating income at Disney Cruise Line was driven by increased passenger cruise days driven by the Disney Fantasy, partially offset by the related operating costs.
According to Jay Rasulo, Senior VP and CFO, the Disney Fantasy will help to increase operating income over FY2012 due to a full year of sailing.