Activision Announces Financial Results for Fiscal Year

Today, Activision Inc. announced its financial results for the fiscal year that ended March 31, 1997. The company experienced revenues of US$86.5 million, an increase of 41 percent over the prior year. Activision's operating income increased to $9.8 million, up 287 percent from the previous year. And net income rose to $7.1 million, up from $5.53 million last year. "Fiscal 1997 has been Activision's most successful year since new management assumed control of the company in 1991," said Activision's chairman and CEO, Robert A. Kotick. "With the PlayStation continuing to build momentum worldwide, and advanced multimedia technologies continuing to fuel sales of personal computers in both existing and new markets, we believe that Activision is well positioned for additional future growth."

Net revenue for the quarter ended March 31 increased 34 percent to $28.93 million from last year's $21.65 million. Activision's net income during the fourth quarter decreased to $4.28 million from $6.35 million last year. Operating income for the quarter increased to $6.05 million from $4.61 million from last year's results. During that quarter, Activision released five major products, including Interstate '76, Quake Mission Packs 1 & 2, MechWarrior 2 for the PlayStation and Saturn, and the MechWarrior 2 Battle Pack.

Additionally, the company's North American and international revenues showed significant growth during the fiscal year. North American revenues increased 37 percent to $64.2 million, and international revenues increased more than 55 percent to $22.3 million.