Bug's Life fails to halt Pixar profit plunge
Is Jobs devoting too much energy to Apple?
Steve Jobs is clearly spending too much time on his old stomping ground, spending too long away from the company where he's the real CEO, not some 'until the sign up the new guy' interim model. While Apple (interim CEO: Steve Jobs) recently recorded its fifth consecutive profitable quarter, Pixar (non-interim CEO: Steve Jobs) has just recorded fourth quarter profits a quarter of what they were for the same period last year. The company posted revenues of $3.1 million, compared to $7.1 million for Q4 97. Profits for the quarter were down to $1.1 million from $4.4 million in the same period a year ago. The company blamed the decline on the fall in income from Toy Story royalties and merchandise (you mean people are still buying plastic Buzz Lightyears?), while the more recently released A Bug's Life had yet to start pumping revenue into the company. Toy Story 2 is due to be released next November, the third instalment of the company's five-picture deal with Disney. Long-term Apple watchers will, of course, remember Jobs' words on taking over the helm at the Mac maker on a temporary basis having turned down the role full-time and passed on the chairmanship of the board: "I've already got the best job in the world, which is to be part of the team at Pixar. "The problem is I have a life. I just can't be the CEO at Apple. I just don't have that to give." That was said July 1997. Eighteen months and still counting... ®