The Walt Disney Company (DIS) has reported 78.87 percent plunge in profit for the quarter ended Oct. 01, 2016. The company has earned $1,771 million, or $1.10 a share in the quarter, compared with $8,382 million, or $4.90 a share for the same period last year. Revenue during the quarter plunged 74.95 percent to $13,142 million from $52,465 million in the previous year period. Gross margin for the quarter was at 21.77 percent.
Operating income for the quarter was $2,861 million, compared with $13,171 million in the previous year period.
“We’re very pleased with our performance for the year, delivering the highest revenue, net income and earnings per share in Disney’s history,” said Robert A. Iger, Chairman and Chief Executive Officer, The Walt Disney Company. “Fiscal 2016 was our sixth consecutive year of record results, highlighted by the opening of Shanghai Disney Resort, the phenomenally successful return of Star Wars, and our Studio’s record-breaking $7.5 billion in total box office. We remain confident that Disney will continue to deliver strong growth over the long-term as we further strengthen our brands and franchises, our technological capabilities, and our international presence.”
Operating cash flow improves
The Walt Disney Company has generated cash of $13,213 million from operating activities during the year, up 21.12 percent or $2,304 million, when compared with the last year. The company has spent $5,758 million cash to meet investing activities during the year as against cash outgo of $4,245 million in the last year.
The company has spent $6,991 million cash to carry out financing activities during the year as against cash outgo of $5,514 million in the last year period.
Cash and cash equivalents stood at $4,610 million as on Oct. 01, 2016, up 7.99 percent or $341 million from $4,269 million on Oct. 03, 2015.
Working capital drops significantly
The Walt Disney Company has witnessed a decline in the working capital over the last year. It stood at $124 million as at Oct. 01, 2016, down 70.75 percent or $300 million from $424 million on Oct. 03, 2015. Current ratio was at 1.01 as on Oct. 01, 2016, down from 1.03 on Oct. 03, 2015.
Debt moves up
The Walt Disney Company has witnessed an increase in total debt over the last one year. It stood at $20,170 million as on Oct. 01, 2016, up 16.35 percent or $2,834 million from $17,336 million on Oct. 03, 2015. Total debt was 21.92 percent of total assets as on Oct. 01, 2016, compared with 19.66 percent on Oct. 03, 2015. Debt to equity ratio was at 0.43 as on Oct. 01, 2016, up from 0.36 as on Oct. 03, 2015. Disclaimer: Please note that this is an auto-generated article. IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website. For queries contact: editor@irisindia.net
