Blizzard 2005 Annual Report Download - page 38

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North America Publishing Net Revenues
(In thousands)
March 31, 2004
% of Consolidated
Net Revenues March 31, 2003
% of Consolidated
Net Revenues Increase/(Decrease) Percent Change
$446,812 47% $432,261 50% $14,551 3%
North฀America฀publishing฀net฀revenues฀increased฀3%฀from฀$432.3฀million฀for฀the฀year฀ended฀March฀31,฀2003,฀to฀$446.8฀million฀for฀the฀year฀ended฀March฀31,฀2004.฀The฀
increase฀reflects฀the฀strong฀performance฀of฀our฀fiscal฀2004฀third฀quarter฀releases฀of฀
True Crime: Streets of L.A.
฀and฀
Tony Hawk’s Underground
฀for฀the฀PS2,฀Xbox฀and฀GameCube฀and฀
Call of Duty
฀for฀the฀PC.฀We฀continued฀to฀see฀strong฀sales฀of฀these฀titles฀through฀March฀2004.฀The฀increase฀in฀net฀revenues฀was฀offset฀by฀fewer฀titles฀released฀in฀fiscal฀2004฀
as฀compared฀to฀fiscal฀2003.
International Publishing Net Revenues
(In thousands)
March 31, 2004
% of Consolidated
Net Revenues March 31, 2003
% of Consolidated
Net Revenues Increase/(Decrease) Percent Change
$218,920 23% $183,714 21% $35,206 19%
International฀ publishing฀ net฀revenues฀ increased฀ by฀ 19%฀ from฀ $183.7฀million฀ for฀the฀ year฀ended฀March฀31,฀ 2003฀ to฀$218.9฀ million฀for฀ the฀ year฀ ended฀ March฀ 31,฀2004.฀
International฀publishing฀also฀saw฀strong฀results฀from฀our฀2004฀releases฀of฀
True Crime: Streets of L.A.
฀and฀
Tony Hawk’s Underground
฀for฀the฀PS2,฀Xbox฀and฀GameCube฀and฀
Call of Duty
฀
for฀the฀PC.฀We฀also฀had฀strong฀results฀from฀several฀other฀titles฀released฀during฀fiscal฀2004฀including,฀
Return to Castle Wolfenstein, X2: Wolverine’s Revenge
฀and฀
Jedi Knight: Jedi Academy
.฀
In฀addition,฀we฀had฀strong฀catalog฀sales฀from฀a฀number฀of฀our฀franchises,฀including฀Spider-Man.฀There฀also฀was฀a฀positive฀strengthening฀of฀the฀EUR฀and฀the฀GBP฀in฀
relation฀to฀the฀U.S.฀dollar฀of฀approximately฀$22.2฀million.฀Excluding฀the฀impact฀of฀changing฀foreign฀currency฀rates,฀our฀international฀publishing฀net฀revenues฀increased฀
7%฀year-over-year.฀The฀increase฀in฀net฀revenues฀was฀offset฀by฀fewer฀titles฀released฀in฀fiscal฀2004฀as฀compared฀to฀fiscal฀2003.
page 36
Activision, Inc. — 2005 Annual Report
Management’s Discussion and Analysis of Financial Condition and Results of Operations