URBANK, Calif., Nov. 8 (Bloomberg News) — The />Walt Disney Company (news/quote) said today that its fiscal fourth- quarter profit fell 82 percent because it sold less advertising on its ABC television network and fewer people visited its theme parks.

Net income fell to $63 million, or 3 cents a share, compared with $348 million, or 16 cents a share, in the period a year earlier. Revenue declined 4.8 percent, to $5.81 billion from $6.11 billion.

Disney's earnings were cut $126 million, or 3 cents a share, by revamping and impairment costs. Excluding those costs, it would have earned 6 cents a share, a penny less than analysts' expectations, according to Thomson Financial/First Call.

The Sept. 11 attacks deepened a decline in ABC's ad sales when the network aired nonstop commercial- free news coverage for several days. Low audience ratings also hurt ad sales. Attendance at Walt Disney World in Florida fell as thousands of people canceled travel plans.

"Clearly, a terrible ad market multiplied by poor ratings doesn't give anybody reason to expect anything but declining operating income" at Disney's TV networks, Jeffrey Logsdon, a media analyst at Gerard, Klauer, Mattison & Company, said before the earnings were released.

In the current quarter, Disney said, it expects operating income to be less than half of what it was in the period a year earlier, with the TV network and theme parks leading the decline.

Lower retail sales may also cut earnings at Disney's consumer-products division.

"Ad softness should continue well into 2002, and there are no visible signs of recovery," Robert A. Iger, Disney's president, said in a conference call with analysts.

Disney, based in Burbank, said it expected operating income to decline 10 percent to 15 percent in the last three quarters of fiscal 2002.

ABC's prime-time program schedule will change soon, Disney executives said, in hopes of increasing ratings.

ABC "is our most important point of focus right now," said Michael D. Eisner, the chief executive. "The fact is we need to improve upon our recent development in this area."

Before the results were announced, shares of Disney closed at $18.84, up 38 cents. They fell to $18.50 after hours.