NEWS - Wednesday, May 8, 2002

Activision Fourth-Quarter Results

Video game publisher Activision Inc. reported a more than tenfold increase in fiscal fourth-quarter profits on Tuesday as the introduction of new game machines sparked demand for games, pushing revenues and margins higher. The Santa Monica, California-based company also raised its guidance for fiscal 2003 and offered a $1 billion revenue target for 2004, buoyed in part by expectations that its Spider-Man games, already a hit in their first few weeks, will remain popular. The movie version of the classic comic opened last weekend and set a three-day box office record of $114 million. Activision said its five "Spider-Man" games were all performing well, with the PC version a "Top 10" hit in its first week and three of the five games leading rental charts. The company confirmed that it holds the rights to make games based on the first "Spider-Man" sequel and that it is exploring the possibility of releasing "Spider-Man" games in Japan. The company reported a net profit of $10.9 million, or 17 cents per share, compared with a year-earlier profit of $875,000 or 2 cents per share. Revenue rose to $164.9 million from $126.8 million. "You can’t argue with the numbers," said Mike Wallace, a UBS Warburg analyst who follows the industry. "This company is clicking on all cylinders." You can find out the rest of Activision’s Financial reports right here


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