Thanks in part to the success of High School Musical and Pirates of the Caribbean: Dead man’s Chest, the House of Mouse posted close to US$5 billion in net income for fiscal 2007.

Burbank, California-based The Walt Disney Company today reported earnings of US$4.7 billion, up a whopping US$1.3 billion from 2006.

President and CEO Robert Iger singled out the sales of E! Entertainment and the paring down of the ABC Radio operations as further reasons for the stellar year. The largest revenue generator remains Disney’s media network division, which posted a 7% bump in sales, bringing in US$15 billion for the year. On the kids side, an increase in affiliate revenues and subscribers to Disney-ABC Cable Networks, combined with increased international distribution of the Disney Channel and a spike in DVD sales spurred by High School Musical all contributed to the landmark showing.

Parks and resorts revenues for the year were also up to 7% to US$10.6 billion and segment operating income increased 11% to $1.7 billion.

Operating income for Studio Entertainment, meanwhile, was up 65% to US$1.2 billion, while revenues remained flat at US$7.5 billion.

Disney Consumer Products continued its growth streak, with revenues jumping up 7% to US$2.3 billion, and segment operating income increased 2% to US$631 million.