While "Donnie Darko" only made roughly $1.2 million worldwide during its theatrical run back in 2001, the producers loved the movie enough to do a sequel, Screendaily reported.

In the 2001 original, Jake Gyllenhaal played the title character where he managed to escape certain death due to a falling jet engine after being warned by a grotesque giant bunny named Frank. However, by avoiding death, he managed to cause two of his close friends to die.

Titled "S. Darko," the new movie will center on his sister Samantha (again played by Daveigh Chase) and will take place seven years after the events of the first movie where she too will have "bizarre visions."

"I think there is a new generation of cinema-goers who will be very excited to see this film," Simon Crowe of Velvet Octopus told Screendaily.

Neither Jake Gyllenhaal nor director Richard Kelly is involved in "S. Darko," however.

"Donnie's not in [the new film] but there are meteorites and rabbits," Crowe said.

The 2001 original has a Tomatomer of 83% at film rating site Rotten Tomatoes.

Principal photography will begin May 18.

Update 5/30/2008:
Elizabeth Berkley and Briana Evigan have join the cast with Chris Fisher directing, according to The Hollywood Reporter.

Sites of interest:
AV Club's response to the sequel.
"Donnie Darko"'s official site.
Daveigh Chase's official website, blog and Myspace page.