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This excerpt taken from the ATVI DEFA14A filed Dec 5, 2007. Richard Jones - Lehman Brothers - Analyst
Hi, got a couple of questions, if that’s okay. The first one was just if you can give us an idea of what the options expensing incorporated in the $1.1 billion forecast, what the options expensing on top of that is likely to be, just a kind of rough ballpark, so obviously Vivendi numbers are going to end up being stated post-options expensing.
Secondly, just in terms of the Activision schedule, obviously you’ve had a pretty strong year this year, helped by Guitar Hero and Call of Duty. I’m just wondering if you can give us a flavor for how you think that schedule lines up compared to that for next year and then 2009. And then finally, in terms of margins, obviously, you’ve talked about 25%-plus margin in 2009, which seems to be quite a bit higher than a lot of games companies have delivered historically. I just wonder how we should think about the broader context of that.
Thomas Tippl - Activision - CFO
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