Walt Disney Co. (DIS:NYSE)

Walt Disney Co. reported unaudited consolidated earnings results for the fourth quarter and year ended October 3, 2009. For the quarter, the company reported net income of $895 million or $0.47 per diluted share compared to $760 million or $0.40 per diluted share a year ago. Revenues were $9,867 million compared with $9,445 million a year ago. Income before income taxes and minority interests was $1,661 million compared with $1,387 million a year ago. For the year, the company reported net income of $3,307 million or $1.76 per diluted share compared to $4,427 million or $2.28 per diluted share a year ago. Revenues were $36,149 million compared with $37,843 million a year ago. Income before income taxes and minority interests was $5,658 million compared with $7,402 million a year ago. Cash provided by operations was $5,064 million compared with $5,446 million a year ago. The company reported acquisitions of $517 million compared with $660 million a year ago.

Walt Disney Co. announced that two of the company's most senior leaders would assume new roles at the end of the year. Thomas O. Staggs, Senior Executive Vice President and Disney's Chief Financial Officer and 20 year Disney veteran, will become Chairman, Walt Disney Parks and Resorts. In his new position, Staggs will preside over the company's vacation businesses, which span three continents and include five-world class destinations, a top rated cruise line and the most popular resort locations in North America, Europe and Asia. James A. Rasulo, Chairman of Disney Parks and Resorts and a 23-year Disney veteran, will become Senior Executive Vice President and Disney's Chief Financial Officer. In his new role, Rasulo will oversee the company's worldwide finance organization, corporate strategy and development, brand management, corporate alliances, investor relations, treasury and risk management activities, controller functions, information systems, corporate responsibility, real estate and taxes. Both will remain members of the senior management group reporting to Iger. Rasulo joined Disney in 1986 as Director, Strategic Planning and Development, advancing to more senior positions there, and later became Senior Vice President, Corporate Alliances. He then led Disney Regional Entertainment before moving to Paris as President, Euro Disney before eventually becoming its Chairman and CEO in 2000. Before joining Disney, he held positions with Chase Manhattan Bank and the Marriott Corp. Staggs joined Disney in 1990 as Manager of Strategic Planning and soon advanced through a series of positions of increased responsibility, becoming Senior Vice President of Strategic Planning and Development in 1995 before becoming CFO and Executive Vice President in 1998. Born in Illinois, Staggs received a BS in business from University of Minnesota and an MBA from Stanford University. He worked in investment banking at Morgan Stanley & Co. before joining Disney.

Walt Disney Co. provided capital expenditure guidance for the full year of 2010. For the period, the company will increase capital expenditures for key initiatives at parks and resorts, including the expansion of California Adventure at Disneyland Resort, the construction of new ships at Disney Cruise Lines, as well as new attractions at Walt Disney World and at parks in Paris and Hong Kong.