Finding Nemo helps Pixar deliver record profits

Animation company Pixar has reported that profits more than tripled at the firm during the first quarter of 2004, largely as a result of the runaway success of underwater adventure Finding Nemo.

The computer-animated story of a clownfish father's search for his missing son took more than $800 million at the box office.

Pixar's net income for the first three months of the year was $26.7 million (£15 million), up from $8.2 million during the same period last year.

San Francisco-based Pixar claimed the rise was largely due to the continuing success of Finding Nemo on DVD.

The latest Pixar results far surpassed analysts' expectations and the company has predicted further strong profits during the second quarter of 2004, largely as a result of continuing strong home video sales of Finding Nemo and the company's other titles. The animator says it expects to sell 40 million copies of Nemo on DVD during 2004.

Pixar's next offering, The Incredibles, will be distributed by The Walt Disney Co. in November. Pixar is currently seeking a new distribution partner after the two firms failed to resolve a dispute over how further revenues would be split.

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