In its original 1996 entitlements, Pixar outlined plans to build 400,000-sf of space in two buildings. The studio, which moved to Emeryville in 2000, has already spent more than $100 million to develop its Emeryville campus, which currently consists of one, 215,000-sf building at 1200 Park Ave. The second building has not yet been built.
According to a representative for Pixar, the studio plans to seek entitlements from the city this spring for up to 800,000-sf in a total of four buildings. Two of the new buildings would most likely be developed on parcels of undeveloped land on the company's 14-acre campus, and the third is slated for a Pixar-owned building across the street.
In 2000, Pixar signed a sub-lease agreement for 9,000-sf at the Emeryville Business Center, which is located across the street from the firm's campus. The company plans to terminate that lease when it builds its second building.
For the fiscal year ended December 28, 2002 Pixar earned $90 million, or $1.68 per diluted share, on revenues of $201.7 million. These results compare to earnings of $36.2 million, or $0.71 per diluted share, on revenues of $70.2 million for the full year ended December 29, 2001.
"2002 was the most financially successful year in Pixar's history, driven by the phenomenal success of Monsters, Inc. and our growing film library," says Pixar CEO Steve Jobs.
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