NCsoft Announces 2007 Second Quarter Financial Results
Company reports second quarter consolidated sales of KRW 75.9 billion, operating income of KRW 10.6 billion and net income of KRW 10.6 billion; Compared to the previous year’s corresponding quarter, operating income rose 533% and net income returned to profitability
Seoul, South Korea, August 8, 2007 – NCsoft® Corporation (KSE: 036570.KS) today reported second quarter 2007 sales of KRW 75.9 billion (US$82.1 million), operating income of KRW 10.6 billion (US$11.5 million), and net income of KRW 10.6 billion (US$11.5 million) all on a consolidated basis. Compared to the previous year’s corresponding quarter, sales were down by 11%, operating income up by 533%, and net income converted to surplus. A one-time write off in expenses of KRW 11.3 billion related to Auto Assault® was included in the previous year’s corresponding quarter.
By region, the percentage breakdown of sales for the second quarter shows 59% in Korea (US$ 52.5 million), and 41% from overseas entities and royalty income: US$13.9 million in North America, US$4.9 million in Europe, US$8.3 million in Japan, US$2.5 million in Taiwan, and royalty income of US$3.9 million.
By game title, sales in the quarter for Lineage® recorded KRW 25.5 billion (US$27.6 million), Lineage II KRW 32.1 billion (US$34.7 million), City of Heroes®/City of Villains® KRW 6.4 billion (US$6.9 million), and Guild Wars® KRW 8.3 billion (US$8.9 million). Lineage and Lineage II sales dropped 16% and 2%, respectively, and City of Heroes/City of Villains increased by 7%.
NCsoft’s CFO Jaeho Lee said, “During the second quarter, we continued the integration of accounts in the PlayNC® service platform. Additionally, Atrix™, SP JAM™ and other new casual games were introduced. We saw a noticeable growth of up to 1.3 million visitors to the site during the quarter. We also announced a strategic and exclusive development deal with Sony Computer Entertainment to begin making online games for the PlayStation 3 and PlayStation Portable. This further cements our position in the industry as the leading online game developer and publisher.”
As for the third quarter, NCsoft will launch Lineage II’s second title The Chaotic Throne™: The Kamael, and officially launch SP JAM and Atrix which are currently in open testing. The company’s next large-scale MMORPG game Aion™ will enter closed beta testing on October 31 in Korea. In North America and Europe, the first expansion for the Guild Wars franchise, Eye of the North™ will launch on August 31 and Richard Garriott’s Tabula Rasa® will release in the fall.
NCsoft, the interlocking NC logo, Lineage, The Chaotic Throne, Guild Wars, Guild Wars Factions, Guild Wars Nightfall™, ArenaNet®, Eye of the North, Auto Assault, Tabula Rasa, Aion, Atrix, SP JAM, PlayNC, PlayNC.com and all associated logos and designs are trademarks or registered trademarks of NCsoft Corporation. City of Heroes, City of Villains and all associated logos and designs are trademarks or registered trademarks of Cryptic Studios, Inc. and NCsoft Corporation. Cryptic Studios is a trademark of Cryptic Studios, Inc. All other trademarks are the property of their respective owners.
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