Disney Parks and Resorts reports no growth

The Walt Disney Company has posted its first quarter results for the period ending January 2, 2010, with the Parks and Resorts segment providing little growth for the company.

Total revenues for this quarter were $2.7 billion, showing almost no change from prior year figures. Operating income dropped to $375 million, which represents a fall of 2 per cent.

A fall in attendance and hotel occupancy at Disneyland Paris was responsible for the poor financial performance. However, the company's American operations displayed an increase in attendance, partly owing to the inclusion of the New Year's holiday period in the first quarter results.

Operating costs for this period also fell due to the abandoning of fuel hedge contracts, allowing for a decrease in the cost associated with the transportation of food, beverage and merchandise.

A fall in the average ticket price and a reduction of in-park spending resulted in lower per capita spending.

$229 million was spent on capital expenditure, a jump from $182 million in the prior quarter.

Photo: The Magic Kingdom