The company views market development in China as a long-term process and has very conservative near-term volume projections for China.

They're really a financially conservative company. They are what they are -- they can do relatively small budget films with a nice potential upside.

Although we had anticipated tepid guidance, the company was far more conservative than we anticipated. The company projected April quarter revenue in the range of $14.2 billion to $14.6 billion, with earnings of 39 cents to 41 cents per share. This was below our previous revenue and earnings estimates of $14.6 billion and 41 cents per share.

When all is said and done, we expect the company will likely be able to exceed its conservative forecast.

We are committed to changing the culture of the company to be more conservative,

It helps the company in lots of ways. We have a wonderful return on investment.