Exhibit 99.1
FOR IMMEDIATE RELEASE
November 5, 2015
THE WALT DISNEY COMPANY REPORTS
FOURTH QUARTER AND FULL YEAR EARNINGS FOR FISCAL 2015
Revenues for the year increased 7% to a record $52.5 billion.
Net income for the year increased 12% to a record $8.4 billion.
EPS for the year increased 15% to a record $4.90.
BURBANK, Calif. – The Walt Disney Company today reported earnings for its fourth quarter and fiscal year ended October 3, 2015. Diluted earnings per share (EPS) for the fourth quarter increased 10% to $0.95 from $0.86 in the prior-year quarter. Excluding certain items affecting comparability(1), EPS for the quarter increased 35% to $1.20 from $0.89 in the prior-year quarter. Diluted EPS for the year increased 15% to $4.90 from $4.26 in the prior year. Excluding certain items affecting comparability(1), EPS for the year increased 19% to $5.15 from $4.32 in the prior year.

“We had a strong quarter, with adjusted EPS up 35%, completing our fifth consecutive year of record performance,” said Robert A. Iger, chairman and chief executive officer of The Walt Disney Company.  “In Fiscal 2015 we delivered the highest revenue, net income and adjusted EPS in the Company’s history, reflecting the power of our great brands and franchises, the quality of our creative content, and our relentless innovation to maximize value from emerging technologies.”

The following table summarizes the full year and fourth quarter results for fiscal 2015 and 2014 (in millions, except per share amounts). Fiscal 2015 results for the full year and fourth quarter include the benefit from one additional week of operations compared to the prior-year and prior-year fourth quarter due to our fiscal period end. The impact of the additional week of operations was the most significant in our cable networks, domestic parks and consumer products businesses:
 
Quarter Ended
 
 
 
 
Year Ended
 
 
 
Oct. 3, 2015
 
Sept. 27, 2014
 
Change
 
Oct. 3, 2015
 
Sept. 27, 2014
 
Change
Revenues
$
13,512

 
$
12,389

 
9
%
 
 
$
52,465

 
$
48,813

 
7
%
 
Segment operating income(2)
$
3,534

 
$
2,775

 
27
%
 
 
$
14,681

 
$
13,005

 
13
%
 
Net income(3)
$
1,609

 
$
1,499

 
7
%
 
 
$
8,382

 
$
7,501

 
12
%
 
Diluted EPS(3)
$
0.95

 
$
0.86

 
10
%
 
 
$
4.90

 
$
4.26

 
15
%
 
EPS excluding certain items affecting comparability(1)
$
1.20

 
$
0.89

 
35
%
 
 
$
5.15

 
$
4.32

 
19
%
 
Cash provided by operations
$
3,328

 
$
3,105

 
7
%
 
 
$
10,909

 
$
9,780

 
12
%
 
Free cash flow(2)
$
2,124

 
$
2,042

 
4
%
 
 
$
6,644

 
$
6,469

 
3
%
 
(1) 
During the fourth quarter of the current year, the Company recorded a deferred income tax asset write-off of $399 million as a result of the increase in its ownership of Euro Disney S.C.A. in connection with a recapitalization of Disneyland Paris. EPS excluding certain items affecting comparability has been adjusted to exclude this and certain other items. See reconciliation of reported EPS to EPS excluding certain items affecting comparability on page 8.
(2) 
Segment operating income and free cash flow are non-GAAP financial measures. See the discussion on page 8 and 9.
(3) 
Reflects amounts attributable to shareholders of The Walt Disney Company, i.e. after deduction of noncontrolling interests.

1

The following information was filed by Twdc Enterprises 18 Corp. on Thursday, November 5, 2015 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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