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Theme Parks Help Disney to a Record Quarter, Year

November 13, 1986

Spurred mainly by its theme parks and resorts, Walt Disney Co. on Wednesday reported record revenue and profit for its fourth quarter and fiscal year.

The entertainment and real estate concern netted $81.1 million in the fourth quarter ended Sept. 30, a 51% increase over a year ago, when it earned $53.8 million.

For the full year, earnings rose 43% year to year to $247.3 million from $173.5 million.

The Burbank company's revenue was up by 23% for both periods to $726.4 million for the final quarter and $2.47 billion for the year.

Disney's theme parks and related resorts in Anaheim and near Orlando, Fla., posted the strongest results.

Because of high attendance, visitor spending at the parks and hotel occupancy, that segment's operating earnings rose 36% to $133.9 million in the fourth period and 58% to $403.7 million for the year.

Helped by box-office results of its movies "Ruthless People" and "Down and Out in Beverly Hills," as well as television programming, revenue of Disney's filmed-entertainment unit was up 84% to $138.3 million for the quarter and 60% to $511.7 million for the year.

But operating income from that unit remained relatively weak. For the quarter, it posted a profit of $3.1 million, compared to a deficit of $9.4 million a year earlier. For all of fiscal 1986, income rose by 53% to $51.6 million.

The company also posted income gains in its consumer products and community development units.

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