For the fourth quarter, the company reported net income of $44.2 million, or earnings per diluted share of $0.14, as compared to a net loss of $14.4 million, or a loss per share of $0.05, for the fiscal year 2007 fourth quarter.  Excluding the impact of expenses related to equity-based compensation expense, the company reported non-GAAP net income of $54.9 million and non-GAAP earnings per diluted share of $0.17 for the quarter.  This compares to a non-GAAP net loss of $10.1 million and a non-GAAP loss per share of $0.04 for the fourth quarter of last fiscal year, in each case excluding the impact of expenses related to equity-based compensation.

Robert Kotick, Chairman and CEO of Activision, Inc. commented, “Fiscal 2008 was the best year in our history and Q4 was the largest and most profitable non-holiday quarter, even though we did not release any new titles.  During the fiscal year, we were the #1 U.S. console and handheld publisher in dollars for the first time ever, according to The NPD Group, and we grew our worldwide share of the console, handheld and PC markets year over year.  We achieved record financial performance significantly growing both net revenues and earnings per share.  And, we delivered a record operating margin of 16.5% on a GAAP basis, and 18.4% on a non-GAAP basis, excluding the impact of equity-based compensation, and we increased stockholder’s equity by 38%.”

Kotick continued, “In fiscal 2009, we expect to deliver another year of growth.  We remain committed to strengthening our global leadership position by continuing to execute on our growth strategies and cost-optimization initiatives.  We own or control some of the most successful brands in interactive entertainment, and we will continue to focus our resources on proven properties with broad global appeal.  Our solid lineup, which includes new titles based on such blockbuster brands as Call of Duty®, Guitar Hero® and James Bond, should enable us to continue capitalizing on growth in interactive entertainment consumption worldwide.”

Kotick added, “With respect to our pending combination with Vivendi Games, we are on track to complete our transaction, which will create the world’s largest and most profitable independent video game company.  We are pleased that Blizzard’s business maintained its momentum, and combined with our continued business strength, we are well positioned to exceed the financial goals we have set for the combined company at the time of the deal announcement.   The combination of Activision’s solid portfolio and Vivendi Games proven properties should enable us to continue delivering exceptional returns to our stockholders.”

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For the fourth quarter, the company reported net income of $44.2 million, or earnings per diluted share of $0.14, as compared to a net loss of $14.4 million, or a loss per share of $0.05, for the fiscal year 2007 fourth quarter.  Excluding the impact of expenses related to equity-based compensation expense, the company reported non-GAAP net income of $54.9 million and non-GAAP earnings per diluted share of $0.17 for the quarter.  This compares to a non-GAAP net loss of $10.1 million and a non-GAAP loss per share of $0.04 for the fourth quarter of last fiscal year, in each case excluding the impact of expenses related to equity-based compensation.

Robert Kotick, Chairman and CEO of Activision, Inc. commented, “Fiscal 2008 was the best year in our history and Q4 was the largest and most profitable non-holiday quarter, even though we did not release any new titles.  During the fiscal year, we were the #1 U.S. console and handheld publisher in dollars for the first time ever, according to The NPD Group, and we grew our worldwide share of the console, handheld and PC markets year over year.  We achieved record financial performance significantly growing both net revenues and earnings per share.  And, we delivered a record operating margin of 16.5% on a GAAP basis, and 18.4% on a non-GAAP basis, excluding the impact of equity-based compensation, and we increased stockholder’s equity by 38%.”

Kotick continued, “In fiscal 2009, we expect to deliver another year of growth.  We remain committed to strengthening our global leadership position by continuing to execute on our growth strategies and cost-optimization initiatives.  We own or control some of the most successful brands in interactive entertainment, and we will continue to focus our resources on proven properties with broad global appeal.  Our solid lineup, which includes new titles based on such blockbuster brands as Call of Duty®, Guitar Hero® and James Bond, should enable us to continue capitalizing on growth in interactive entertainment consumption worldwide.”

Kotick added, “With respect to our pending combination with Vivendi Games, we are on track to complete our transaction, which will create the world’s largest and most profitable independent video game company.  We are pleased that Blizzard’s business maintained its momentum, and combined with our continued business strength, we are well positioned to exceed the financial goals we have set for the combined company at the time of the deal announcement.   The combination of Activision’s solid portfolio and Vivendi Games proven properties should enable us to continue delivering exceptional returns to our stockholders.”

(more)

For the fourth quarter, the company reported net income of $44.2 million, or earnings per diluted share of $0.14, as compared to a net loss of $14.4 million, or a loss per share of $0.05, for the fiscal year 2007 fourth quarter.  Excluding the impact of expenses related to equity-based compensation expense, the company reported non-GAAP net income of $54.9 million and non-GAAP earnings per diluted share of $0.17 for the quarter.  This compares to a non-GAAP net loss of $10.1 million and a non-GAAP loss per share of $0.04 for the fourth quarter of last fiscal year, in each case excluding the impact of expenses related to equity-based compensation.

Robert Kotick, Chairman and CEO of Activision, Inc. commented, “Fiscal 2008 was the best year in our history and Q4 was the largest and most profitable non-holiday quarter, even though we did not release any new titles.  During the fiscal year, we were the #1 U.S. console and handheld publisher in dollars for the first time ever, according to The NPD Group, and we grew our worldwide share of the console, handheld and PC markets year over year.  We achieved record financial performance significantly growing both net revenues and earnings per share.  And, we delivered a record operating margin of 16.5% on a GAAP basis, and 18.4% on a non-GAAP basis, excluding the impact of equity-based compensation, and we increased stockholder’s equity by 38%.”

Kotick continued, “In fiscal 2009, we expect to deliver another year of growth.  We remain committed to strengthening our global leadership position by continuing to execute on our growth strategies and cost-optimization initiatives.  We own or control some of the most successful brands in interactive entertainment, and we will continue to focus our resources on proven properties with broad global appeal.  Our solid lineup, which includes new titles based on such blockbuster brands as Call of Duty®, Guitar Hero® and James Bond, should enable us to continue capitalizing on growth in interactive entertainment consumption worldwide.”

Kotick added, “With respect to our pending combination with Vivendi Games, we are on track to complete our transaction, which will create the world’s largest and most profitable independent video game company.  We are pleased that Blizzard’s business maintained its momentum, and combined with our continued business strength, we are well positioned to exceed the financial goals we have set for the combined company at the time of the deal announcement.   The combination of Activision’s solid portfolio and Vivendi Games proven properties should enable us to continue delivering exceptional returns to our stockholders.”

(more)