NEWS - Friday, July 29, 2005
Activision Q1 Shows Strong Revenues
Activision Q1 Shows Strong Revenues, Net Loss Activision today announced financial earnings for its first quarter, showing record net revenues bolstered by DOOM thundering onto Xbox. For the period ending June 30, 2005, Activision reports net revenues of $241.1 million as compared to $211.3 million in the same quarter last year. However, this year the company shows a first quarter net loss of $3.6 million, as opposed to a net income of $12 million last year. Activision’s strong revenues were driven by the success of DOOM 3 for Xbox, Madagascar, and Fantastic 4 -- all of which shipped more than one million units. The company also saw strong sales of Star Wars Episode III: Revenge of the Sith for PlayStation 2 and Xbox -- a title which Activision publishes in Europe. "Fiscal 2006 is off to a strong start," said Activision chairman and CEO Robert A. Kotick. "To date DOOM 3, Madagascar and Fantastic 4 each have shipped in excess of one million units. During the quarter, we continued to strengthen our business. With $786 million in cash and short-term investments, one of the industry’s strongest balance sheets and a strong product development slate, we have entered fiscal year 2006 with numerous competitive advantages." For its second quarter the company expects net revenues of $200 million. Activision’s titles for the coming quarter include Ultimate Spider-man, X-Men Legends II: Rise of Apocalypse, and World Series of Poker. The company has increased its outlook for fiscal 2006 to $1.47 billion in net revenues.Source: http://www.ign.com
