This excerpt taken from the ATVI 8-K filed Oct 25, 2006.
- Company Announces Q2 Conference Call and Expected Delay in Filing Form 10-Q -
Santa Monica, CA Oct. 25, 2006 Activision, Inc. (Nasdaq: ATVI) today announced that the companys net revenues for the second fiscal quarter ended September 30, 2006 were significantly higher than its previously provided outlook.
Net revenues for the second quarter ended September 30, 2006 were $188.2 million, a 45% increase over the companys prior outlook of $130.0 million due to strong performance of the companys product portfolio, improving market conditions and the strength of the companys distribution and affiliate businesses. For the second quarter of last fiscal year, the company reported net revenues of $222.5 million.
However, as discussed below in more detail, Activision does not expect to be in a position to finalize other financial results for the second quarter until the special sub-committee of the independent members of its board of directors has completed its internal review of the companys historical option grant practices and the company is able to determine what, if any, impact the results of that investigation will have on those financial results.