Star Wars Episode 7 release date is finally official, according to Disney the much-anticipated movie is due to hit theaters on Dec. 18, 2015.

"We're very excited to share the official 2015 release date for 'Star Wars: Episode VII,' where it will not only anchor the popular holiday filmgoing season but also ensure our extraordinary filmmaking team has the time needed to deliver a sensational picture," Chairman of Walt Disney Studios, Alan Horn, said in a press release issued by the company. "Star Wars: Episode VII" was initially expected to arrive sometime during that previous summer."

In addition, Disney, during a separate press release, revealed that Star Wars Episode 7 would be released in 3D.

Furthermore, the news of the upcoming Star Wars release is not surprising to its fans anymore as, Badass Digest editor, Devin Feraci revealed last August, that a number of sources told him about the shift from summer time to Christmas season release of the sci-fi film.

A week ago, The Hollywood Reporter claimed that there were conflicts within the Star Wars team pertaining to when the movie should be released. According to them, Lucasfilm boss, Kathleen Kennedy wanted a 2016 release in order to provide more time for the creative team to polish and finalize their work.

It has been reported earlier that the screenplay duties were already given to highly acclaimed director J.J. Abrams along with Lawrence Kasdan, replacing Michael Arndt, who was hired last year to pen the Episode 7 film.

Disney's announcement of Star Wars release date came just in time of the company's big day. The company also took the time to announce the results for its fiscal year and fourth quarter, where the company increased revenues to 7% to 11.5 billion on the quarter and a whopping $45 billion on the year. On the other hand, the company's net income soared 12% to 1.4 billion on the quarter and 8% to $6.1 billion on the year.

 "We're extremely pleased with our results for Fiscal 2013, delivering record revenue, net income and earnings per share for the third year in a row," Bob Iger, Disney chief claimed in a statement. "It was another great year for the Company, both creatively and financially, and we remain confident that we are well positioned to continue our strong performance and drive long-term shareholder value."