Walt Disney Q4 net slips 13% to $760 mn

NEW YORK: Entertainment major Walt Disney has reported a 13.3 per cent decline in net income at 760 million dollars for the fourth quarter ended September 27, compared to the corresponding year-ago period.

The company had a net income of 877 million dollars for the quarter ended September 29, 2008, Walt Disney said in a statement. "This is clearly a difficult and unpredictable time and while our businesses aren't immune, the strength of our assets, brands, and management team positions us well for the long term," Walt Disney's President and CEO Robert A. Iger said.

Revenues of the company rose to 9.45 billion dollars for the quarter under review, from 8.93 billion dollars in the year-ago period.

For the year ended September 27, Walt Disney's net income fell 5.5 per cent to 4.43 billion dollars.
It had a net income of 4.69 billion dollars for the year ended September 29, 2007.