PR Newswire - October 22, 1998 06:34
SANTA MONICA, Calif., Oct. 22 /PRNewswire/ -- Activision, Inc. (Nasdaq: ATVI) today announced financial results for the second fiscal quarter ended September 30, 1998.
The Company reported net revenues for the second fiscal quarter ended September 30, 1998 of $66,182,000, compared to net revenues of $53,015,000 reported for the second quarter last fiscal year. Net loss for the second fiscal quarter was $2,234,000, or $0.10 per share, compared with net income of $1,837,000, or $0.08 per share, reported for the same period last year.
The Company reported net revenues for the six month period ended September 30, 1998 of $118,062,000, compared to net revenues of $79,529,000 reported for the six month period last fiscal year. Net loss for the six month period was $6,038,000, or $0.28 per share, compared with net loss of $3,577,000, or $0.17 per share, reported for the same period last year.
Robert A. Kotick, Chairman and CEO, commented, "We are pleased with the strong customer response to our newly released PlayStation products Tenchu and Activision Classics. Both games had very solid launches in the markets where they shipped, and we expect them to continue selling well into the holiday season. We believe that Activision is well positioned for the third fiscal quarter with an exciting and robust product slate that includes Heavy Gear II, Heretic II, Sin, Fighter Squadron and Teen Digital Diva for the PC; Apocalypse and T'ai Fu for the PlayStation; Nightmare Creatures for the N64; and an all-new version of the blockbuster video game Asteroids for both the PC and PlayStation. Complementing this lineup is our strong slate of value-priced PC software titles from Head Games Publishing, which includes Cabela's Big Game Hunter II, the highly anticipated 3D sequel to one of the best-selling outdoor sports games of all time, as well as Remington Top Shot, Remington Upland Game Hunter and Brunswick ProPool 3D. Additionally, we expect that our European distribution companies will benefit greatly from the continuing positive industry fundamentals."
Mr. Kotick added, "Looking toward the fourth fiscal quarter, our product slate will feature some of the industry's strongest brands including Civilization: Call to Power, Jack Nicklaus: Golden Bear Challenge and Interstate '82 for the PC; Civilization II and Quake II for the PlayStation; and Quake II and Vigilante 8 for the N64. Over the past six months, we completed a number of important strategic initiatives which we believe will greatly benefit the company in fiscal 2000 and beyond. These include our recent 10-year alliance with Viacom Consumer Products to develop and publish games based on the Star Trek franchise, as well as our Disney, Marvel and LucasArts transactions."
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