This excerpt taken from the ATVI 8-K filed Nov 6, 2006.
- Next-Gen Launch Lineup Largest in Companys History -
Santa Monica, CA November 6, 2006 Activision, Inc. (Nasdaq: ATVI) today reported financial information for the second fiscal quarter ended September 30, 2006.
Net revenues were $188.2 million, a 45% increase over the companys prior outlook of $130.0 million, which was given on August 3, 2006. For the second quarter of last fiscal year, the company reported net revenues of $222.5 million. Net revenues for the six-month period ended September 30, 2006 were $376.2 million, as compared to net revenues of $463.6 million reported for the six-month period of last fiscal year. The company ended the quarter with $747 million in cash and short-term investments.
As previously announced, in light of the ongoing review of the companys historical stock option grant practices by the special sub-committee of the independent members of the Board of Directors, todays announcement includes only selected financial information for the second quarter.
Robert Kotick, Chairman and CEO of Activision Inc., stated, Our second quarter net revenues exceeded our expectation and were driven by improving market conditions and the success of our franchises including Call of Duty®, Guitar Hero and World Series of Poker®, as well as our distribution and affiliate businesses. We are optimistic about our exciting holiday lineup, although we remain cautious of the many variables that can affect the holiday selling season, including software pricing and the introductions of the PLAYSTATION® 3 and Wii.