Hi Sharck. Isn't Quebec's Smith Falls Project raking in the bucks with the huge demand in N/E US these days. I recall a year or two that things weren't so good when they started building Gas fired generating stations all over New England and New York state.
Something of inerest, maybe
Activision (ATVI) 30.70 +1.71: It is a rare occurrence these days when a technology company confidently provides guidance beyond the current quarter. However, after posting
better than expected Q4 results, Activision was more than happy to provide guidance not only for its current fiscal year, but for the next fiscal year as well. Some of the highlights--
past, present, and future-- are detailed below.
The Hindsight
For FY01 (ended March 31), net revenues of $620 mln and earnings of $0.75 per diluted share were the highest in the company's history
Q4 earnings of $0.03 per diluted share were $0.02 ahead of the consensus estimate; sales were up 22% to a record $127 mln
For the 2001 fiscal year, Activision was the fastest growing U.S. publisher
In Q4, Activision's U.S. console and handset business increased 27% vs last year despite a 3% decline in the overall market
Repaid remaining $8.5 mln balance of its 3-yr $25 mln term loan and eliminated roughly $46 mln of debt since 12-31-00
DSOs at record 54 days in March qtr. versus 94 days last year
The Visibility
FY02 EPS guidance raised to $0.80 from $0.76 (consensus is $0.77); revenues projected to be $605 mln
With Nintendo accelerating the launch of Game Boy Advance, ATVI now expects a loss of $0.05 per share in Q1 vs prior expectation for loss of $0.18 per share
Believes market will be slow for 5-6 months, but expects holiday season to mark the beginning of a strong growth phase for software sales that should span the next three years
Has 20 games in development for PS2; 10 for Game Boy Advance; and 13 for Xbox
Plans to release 46 new products in FY02 (20 SKUs for next generation consoles; 16 for current platforms; 10 for PC)
Forecasts FY03 EPS of $1.09 and revenues of $750 mln
Although the next 5-6 months may be a slow period for the industry, Activision, through its debt reduction efforts and product development, has done an excellent job of positioning
itself to capitalize on what promises to be one of the most exciting periods of growth in the history of the entertainment software industry. Accordingly, Briefing.com would view interim
dips in the stock as a buying opportunity in anticipation of an extended sales and earnings ramp beginning with the holiday season.-- Patrick J. O'Hare, Briefing.com |
