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ACTIVISION INC. REPORTS FIRST QUARTER RESULTS

 LOS ANGELES, Aug. 24 /PRNewswire/ -- Activision Inc. (OTC: ATVI) today reported results for its fiscal 1994 first quarter that ended June 30, 1993. Net revenues for the three-month period increased 12 percent to $5,041,000, up from $4,490,000 reported in the first quarter of fiscal 1993. The company reported an operating loss of $599,000 for the first quarter of fiscal 1994, versus an operating income of $16,000 for the first quarter of 1993. After a noncash charge of $321,000 for goodwill, the company reported a net loss of $910,000, or 8 cents per share, for the first quarter of 1994, versus net income of $11,000, or 0 cents per share, for the first quarter of 1993. Weighted average common shares and equivalents for the first quarter ended June 30, 1993, increased nearly 20 percent to 11,241,000 from 9,386,000 for the quarter ended June 30, 1992.
 "By completing our $5 million private placement at the beginning of the first quarter, we increased our activities to develop new titles for multiple game and computer platforms," said Robert A. Kotick, chairman and chief executive officer. "We introduced our new Nintendo 16-bit title, 'Mechwarrior' in the first quarter and anticipate introducing over 11 new titles in various formats during the remainder of this year, including 'Return to Zork' and 'Alien vs. Predator.'"
 Activision is a diversified international developer and publisher of interactive entertainment software that is dedicated to producing products that deliver the highest levels of entertainment, production value and technological sophistication. Formed in 1979, Activision has developed numerous proprietary technologies that enable the company to achieve complete platform independence. This technological capability makes it possible to develop products for virtually any floppy disk or compact disc platform.
 ACTIVISION INC. AND SUBSIDIARIES
 CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
 FOR THE QUARTERS ENDED JUNE 30
 (In thousands except per share data)
 (Unaudited)
 1992 1993
 Net Revenues $ 4,490 $ 5,041
 Cost of goods sold 2,027 3,486
 Gross Profit 2,463 1,555
 Operating Expenses:
 Product development 671 692
 Sales and marketing 513 910
 General and administrative 942 552
 Amortization of intangible assets 321 321
 Total operating expenses 2,447 2,475
 Operating Income (loss) 16 (920)
 Other income (expense)
 Interest, net 5 12
 Income (loss) before provision for
 income taxes 21 (908)
 Provision for income taxes 10 2
 Net income (loss) $ 11 $ (910)
 Net income (loss) per common share $ 0.00 $(0.08)
 Number of shares used in
 computing net income (loss)
 per common share 9,386 11,241
 -0- 8/24/93
 /CONTACT: Ken Dennard, 415-296-7383, or Miriam Adler, 212-850-5600, both of Morgen-Walke Associates, for Activision/
 (ATVI)


CO: Activision Inc. ST: California IN: CPR SU: ERN

PK-LH -- SF003 -- 5260 08/24/93 06:30 EDT
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Publication:PR Newswire
Date:Aug 24, 1993
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