8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

November 8, 2005

Date of Report (Date of earliest event Reported):

Pixar

(Exact Name of Registrant as Specified in its Charter)

California	0-26976	68-0086179
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(I.R.S. Employer Identification Number)

1200 Park Avenue

Emeryville, CA 94608

(510) 752-3000

(Addresses, including zip code, and telephone number, including area code, of principal executive offices)

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 2.02. Results of Operations and Financial Condition

On November 8, 2005, the Registrant reported its results of operations for its fiscal quarter ended October 1, 2005. A copy of the press release issued by the Registrant concerning the foregoing results is furnished herewith as Exhibit 99.1 and is incorporated herein by reference.

This information shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.

Item 9.01. Financial Statements and Exhibits

(c) Exhibits.

Exhibit Number	Description
99.1	Press release, dated November 8, 2005, entitled “Pixar Reports Third Quarter Financial Results”

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	Pixar
DATE: November 8, 2005	By:	/s/ SIMON T. BAX
		Simon T. Bax Executive Vice President and Chief Financial Officer

INDEX TO EXHIBITS

Exhibit Number	Description
99.1	Press release, dated November 8, 2005, entitled “Pixar Reports Third Quarter Financial Results”

EX-99.1

Exhibit 99.1

Press Release	For More Information Contact:
For Immediate Release	Nils Erdmann	Investor Relations
		Pixar Animation Studios
		(510) 752-3374
	John Buckley	Brainerd Communicators
		(212) 986-6667

Pixar Reports Third Quarter Financial Results

EMERYVILLE, CA - (November 8, 2005) Pixar Animation Studios (Nasdaq: PIXR) today announced financial results for its fiscal third quarter ended October 1, 2005. For the quarter, Pixar earned $27.4 million, or $0.22 per diluted share on revenues of $45.8 million. These results compare to earnings of $22.4 million, or $0.19 per diluted share on revenues of $44.5 million, achieved in the year-ago quarter.

For the nine months ended October 1, 2005, Pixar earned $122.0 million, or $0.99 per fully diluted share on revenues of $233.5 million. This compares to earnings of $86.5 million, or $0.73 per fully diluted share on revenues of $164.6 million for the nine months ended October 2, 2004.

“Our performance this quarter highlights the ongoing value of our growing film library,” said Pixar CEO Steve Jobs. “Looking forward, the marketing campaign for Cars, our studio’s seventh feature film, is revving up as we prepare for its release next June. It is going to take your breath away.”

The company will discuss its third quarter 2005 earnings results and fiscal year 2005 business outlook during the conference call to be held today, Tuesday, November 8, 2005, at 5:00 p.m. Eastern Time, 2:00 p.m. Pacific Time. The call, hosted by Pixar’s Chairman and Chief Executive Officer, Steve Jobs, and Executive Vice President and Chief Financial Officer, Simon Bax, can be accessed by dialing 800-230-1059 (U.S.) or 612-288-0337 (Int’l) approximately 10 minutes prior to the start time. Additionally, a replay of the call will be provided through Tuesday, November 15, 2005 until midnight EST. To access the replay, please call 800-475-6701 (U.S.) or 320-365-3844 (Int’l) and reference the reservation code: 800076.

Pixar will also provide live audio streaming of its third quarter 2005 results conference call. The webcast will be accessible through Pixar’s web site at http://www.pixar.com/investor/index.html.

About Pixar Animation Studios

Pixar Animation Studios combines creative and technical artistry to create original stories in the medium of computer animation. Pixar has created six of the most successful and beloved animated films of all time: Toy Story, A Bug’s Life, Toy Story 2, Monsters, Inc., Finding Nemo and The Incredibles. Pixar has won 18 Academy Awards^® and its six films have grossed more than $3.2 billion at the worldwide box office to date. The Northern California studio will release its next film, Cars, on June 9, 2006.

This release contains forward-looking information regarding Pixar’s targeted release date for Pixar’s next film and actual results may differ materially. Factors that could cause delays in the release of the film include, but are not limited to: (1) the uncertainties related to production delays; (2) financing requirements or other marketing or distribution factors; (3) personnel availability; (4) external socioeconomic and political events; and (5) the release dates of competitive films. Please refer to Pixar’s 2004 Form 10-K, 2005 Second Quarter Form 10-Q and other filings with the Securities and Exchange Commission, particularly the sections on risks, for important factors that could cause actual results to differ.

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Pixar Animation Studios

Condensed Statements of Income

(Unaudited, in thousands, except per share data)

	Quarter Ended				Nine Months Ended
	October 1, 2005		October 2, 2004		October 1, 2005		October 2, 2004
Revenue:
Film	$	41,528	$	40,416	$	222,886	$	155,221
Software		4,284		4,047		10,607		9,355
Total revenue		45,812		44,463		233,493		164,576
Cost of revenue:		3,587		4,204		35,318		16,545
Gross profit		42,225		40,259		198,175		148,031
Operating expenses:
Research and development		2,575		4,218		8,504		11,770
Sales and marketing		1,460		737		2,974		1,744
General and administrative		4,453		3,828		12,748		9,921
Total operating expenses		8,488		8,783		24,226		23,435
Income from operations		33,737		31,476		173,949		124,596
Interest income and other		7,395		3,088		17,954		8,473
Income before income taxes		41,132		34,564		191,903		133,069
Income tax expense		13,724		12,143		69,906		46,521
Net income	$	27,408	$	22,421	$	121,997	$	86,548
Basic net income per share	$	0.23	$	0.20	$	1.03	$	0.77
Diluted net income per share	$	0.22	$	0.19	$	0.99	$	0.73
Shares used in computing basic net income per share		118,594		113,802		118,087		112,652
Shares used in computing diluted net income per share		123,091		119,344		123,054		118,228

Pixar Animation Studios

Condensed Balance Sheets

(Unaudited, in thousands)

	October 1, 2005			January 1, 2005
ASSETS
Cash and investments	$	1,043,664		$	854,784
Receivables, net		31,511			81,962
Prepaid expenses and other assets		2,955			2,227
Deferred income taxes		75,277			70,424
Property and equipment, net		126,293			125,602
Capitalized film production costs, net		163,762			140,038
Total assets	$	1,443,462		$	1,275,037
LIABILITIES AND SHAREHOLDERS’ EQUITY
Liabilities:
Accounts payable	$	1,746		$	5,392
Income taxes payable		26,197			14,077
Other accrued liabilities		14,811			26,971
Unearned revenue		13,223			8,502
Total liabilities		55,977			54,942
Shareholders’ equity:
Common stock		734,522			687,387
Accumulated other comprehensive loss		(3,953	)		(2,211	)
Retained earnings		656,916			534,919
Total shareholders’ equity		1,387,485			1,220,095
Total liabilities and shareholders’ equity	$	1,443,462		$	1,275,037