John Pleasants has stepped down as co-president of the interactive media at Walt Disney Co. Co-President Jimmy Pitaro will now head up the group responsible for developing the company’s video games and online websites.
Pitaro and Pleasants were named in October 2010 as joint leaders of the interactive group, one of the rare struggling divisions of the Burbank entertainment and media company. The group laid off workers in 2011 and 2012.
The departure of Pleasants, who is based in San Francisco, means interactive media will be solely run from the Los Angeles area. The unit's performance has picked up since the August release of “Disney Infinity,” a $100 million console game that incorporates some of the most popular Disney and Pixar characters. The game has sold more than 1 million copies.
Shares closed down 57 cents, or less than 1 percent, to $67.77 on the New York Stock Exchange.
Talon International Inc. reported on Tuesday strong third-quarter earnings, which it attributed to greater sales of its core zipper product.
The Woodland Hills company reported net income of $700,000 (9 cents a share) in the quarter ended Sept. 30, compared to $187,000 (3 cents) in the same quarter last year. Revenue rose 22 percent to $13.7 million.
The company cited wider distribution of its product, which helped drive a 37-percent increase in zipper sales.
“The momentum that we have achieved in the last six consecutive quarters comes from growing our position with major worldwide specialty retailers, obtaining new brand nominations and extending our reach into new markets,” said Chief Executive Lonnie Schnell, in a prepared statement.
Shares closed down 4 cents, or nearly 10 percent, to 39 cents in over-the-counter trading.
Unico American Corp. swung to a loss in the third quarter on lower revenue.
The Woodland Hills company, which sells casualty, property and health insurance through its Crusader Insurance Co. subsidiary, reported a net loss of $400,000 (-7 cents a share) for the third quarter ended Sept. 30, compared to net income of $700,000 (14 cents) for the same period last year. Revenue declined 6.6 percent to $7.7 million.
No analysts follow the company, and management provided no statement about its operations.
Shares closed up 30 cents, or 2.4 percent, to $12.65 on the Nasdaq.