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Activision reports record sales

Game publisher Activision reported record sales and earnings Tuesday for its 2002 fiscal year, ended March 31. Sales for the period totaled $786 million, compared with $620 million the previous year. Net income was $52.5 million, or 88 cents a share, compared with $21 million, or 50 cents a share, a year ago. Sales for the fourth quarter were $165 million, up from $127 million during the same period a year ago. Quarterly earnings were $11 million, or 17 cents a share, up from $1 million, or 2 cents a share. The company also increased guidance for the current year, saying it now expects profit of $1.02 a share and sales of $845 million to $870 million for fiscal 2003. CEO Bobby Kotick attributed the results to franchises such as the "Tony Hawk" series of skateboarding games and strong consumer acceptance of new game systems.

Game publisher Activision reported record sales and earnings Tuesday for its 2002 fiscal year, ended March 31. Sales for the period totaled $786 million, compared with $620 million the previous year. Net income was $52.5 million, or 88 cents a share, compared with $21 million, or 50 cents a share, a year ago.

Sales for the fourth quarter were $165 million, up from $127 million during the same period a year ago. Quarterly earnings were $11 million, or 17 cents a share, up from $1 million, or 2 cents a share. The company also increased guidance for the current year, saying it now expects profit of $1.02 a share and sales of $845 million to $870 million for fiscal 2003. CEO Bobby Kotick attributed the results to franchises such as the "Tony Hawk" series of skateboarding games and strong consumer acceptance of new game systems.