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Activision Blizzard reports December quarter and full year 2009 financial results |
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Activision Blizzard, Inc. has announced December quarter and calendar year 2009 financial results. For calendar year 2009, Activision Blizzard reported GAAP net revenues of $4.28 billion, and earnings per diluted share of $0.09. The results include a $0.19 per share reduction in the valuation of intangible assets reflecting the impact of a weaker market on the casual and music genres. Excluding this charge, GAAP earnings per diluted share would have been $0.28 per share, the company said. For the quarter ended December 31, 2009, Activision Blizzard's GAAP net revenues were $1.56 billion, while it reported a loss per diluted share of $0.23. The company said the loss per share would have been $0.04, if it were not for the $0.19 per share reduction in the valuation of intangible assets described above.  Activision Blizzard also announced that its Board of Directors has authorized a stock repurchase program under which the company can repurchase up to $1 billion of the company's common stock. The Board also declared an annual cash dividend of $0.15 per common share payable on April 2, 2010 to shareholders of record at the close of business on February 22, 2010. Robert Kotick, CEO of Activision Blizzard, said the company generated approximately $1.2 billion in operating cash flow and ended the year with approximately $3.3 billion in cash and investments. He said that for the calendar year, in the US and Europe, Call of Duty: Modern Warfare 2 was the top selling title overall and DJ Hero was the highest grossing new intellectual property (IP) launched in 2009, and through Blizzard Entertainment's World of Warcraft the company retained the top slot in the subscription-based massively multiplayer online role-playing game category worldwide, according to The NPD Group and internal Activision Blizzard estimates. For the first quarter of calendar year 2010, Activision Publishing said it expects to release one title during the last week of March, How To Train Your Dragon, which is based on DreamWorks Animation's upcoming 3D movie and is expected to be published for the PlayStation 3 computer entertainment system, Xbox 360 video game system from Microsoft, Nintendo Wii and Nintendo DS™. For the first quarter 2010, Activision Blizzard expects GAAP net revenues of $1.1 billion, and GAAP earnings per diluted share of $0.20. For calendar year 2010, it expects GAAP net revenues of $4.2 billion, and GAAP earnings per diluted share of $0.47, the company said in its statement. |
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