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August 05, 2003 11:46 am ET - research by NC - Korea
8/4 - NCsoft Announces First Half Financial Results
SEOUL, South Korea, July 30, 2003—Today NCsoft Corporation, the world's largest developer and publisher of online computer games announced 2003 first half sales of KRW (Korean Won) 74 billion (US$61 million) and operating profit of KRW 29.8 billion (US$25 million). Recurring profit stood at KRW 18.7 billion (US$15 million). As for the second quarter, NCsoft recorded sales of KRW 36.6 billion (US$30 million), down two percent from the first-quarter sales. Its operating profit and recurring profit in the second quarter were KRW 11.7 billion (US$10 million) and 7 billion (US$6 million) respectively.

Despite the emergence of various free online games, NCsoft posted sales of KRW 74 billion thanks to continued increase in the number of people in Korea playing NCsoft's flagship product, Lineage, and expanded overseas sales. Profit from overseas royalties during the first half of 2003 jumped 42 percent to KRW 13.7 billion (US$11 million) from KRW 9.7 billion (US$7 million) in the same period last year.

In Taiwan, Lineage is expected to mark continued growth with the update of its twelfth episode Aden and the addition of a new server. In Japan, where broadband networks are gaining in popularity, Lineage is growing rapidly. Japan showed the largest growth for NCsoft's overseas markets as sales soared in the Internet cafes and with the update of new episode Aden.

The company lowered its annual sales expectation from KRW 180 billion (US$149 million) to KRW 157 billion (US$130 million) and operating profit expectation from KRW 83.8 billion (US$70 million) to KRW 62 billion (US$51 million) mainly due to delayed launching of its Shining Lore title and dwindling sales growth in China.

Chief Financial Officer Hong Heo said, "Operating expenses grew because of expenditure for this year's Electronic Entertainment Expo, compensation expenses associated with stock options and newly purchased servers for the Lineage II open beta service. However, we expect a sharp increase in sales next year following stable revenues in the 2nd half of this year as we are planning an update of the original Lineage and the official launch of Lineage II in Korea followed by other territories."

August 05, 2003 11:49 am ET (#1)
dquest
Loyal Fan

31 posts
04-21-02

they are rich....

no grown market in USA? :P

August 05, 2003 11:53 am ET (#2)
poochie
Loyal Fan

32 posts
05-30-03

richh i want that money T_T...

August 05, 2003 11:59 am ET (#3)
FreaX
Loyal Fan

158 posts
11-13-02

number numbers numbers....amer translate this to "GOOD for NC" or "BAD for NC" please :p

August 05, 2003 12:06 pm ET (#4)
iNTOtHEnIGHT
Loyal Fan

10 posts
11-22-02

Not so good now, but cuz that bad now alot better later ^.^

August 05, 2003 12:11 pm ET (#5)
Diode
LC Reporter

54 posts
06-14-02

Lol lineage 2 beta has 16 servers. How many open beta's have ever had 16 servers???

August 05, 2003 12:46 pm ET (#6)
phil
Loyal Fan

147 posts
04-05-02

ya they blowing lots o bling bling and that shiznit (lin 2) werd ma niggas o.o

why i jus talked liek taht i dont know, but yeah, that doesnt seem like tooooooooooooooooooo much money seeing how much staff they need to pay =/

id like to know if they are even making a profit in the US o.o they cant be i tells ya, they cant be!!! o.o

August 05, 2003 01:17 pm ET (#7)
Kolyana
Loyal Fan

posts
07-25-03

I had no idea that they were so huge ... I'd never heard of them before this beta.

August 05, 2003 01:32 pm ET (#8)
elizbeth
Loyal Fan

9 posts
11-27-02

The interesting thing is to notice its ROI still outpaces it's ROE, and that it's 3-yr CAGR still exceeds it's 12month trailing P/E. And to think that it's US comparables at ERTS or Activision are in the EXACT opposite order. If NC were to trade on US exchanges, think about just how BIG this company could be in terms of market cap, and if it had high debt/equity ratio, think of its enterprise value potential. This company is truly amazing in terms of shareholders.

August 05, 2003 01:42 pm ET (#9)
Blahk
Loyal Fan

234 posts
02-02-02

elizbeth, what you just said has no meaning to me, and about everyone else here. go work at mcdonalds

August 05, 2003 02:05 pm ET (#10)
87
Loyal Fan

444 posts
11-28-02

whoa
My extent of stock exchange knowledge : "NASDAQ UP 3RD FLOOR!"
wait a second....

August 05, 2003 02:22 pm ET (#11)
Talic
Loyal Fan

23 posts
08-23-03

yea... i though for a min u.s. was only a lil behind korea then i noticed.... billion.... to million lmao

August 05, 2003 03:29 pm ET (#12)
HellKat
Loyal Fan

75 posts
06-20-02

"The interesting thing is to notice its ROI still outpaces it's ROE, and that it's 3-yr CAGR still exceeds it's 12month trailing P/E. And to think that it's US comparables at ERTS or Activision are in the EXACT opposite order. If NC were to trade on US exchanges, think about just how BIG this company could be in terms of market cap, and if it had high debt/equity ratio, think of its enterprise value potential. This company is truly amazing in terms of shareholders."

Finally a poster with a brain. Nice to see to someone actually understands the news instead of posting inane comments and trying to sound like a four year old or ESL student.

August 05, 2003 04:48 pm ET (#13)
aupairKing
Loyal Fan

320 posts
03-11-02

Well I guess my Atari stock is worthless now!!

Damn, and I loved that game Pong!!!!!

August 05, 2003 04:57 pm ET (#14)
Yoshiki
Loyal Fan

667 posts
12-13-02

I dont understand anything, but i didnt read it anyway lol

August 07, 2003 06:54 am ET (#15)
elizbeth
Loyal Fan

9 posts
11-27-02

TY hellcat. and aupairking.... Atari stock is not worthless now. they are revamping on the success of their matrix game distribution. Atari will make a formidable comeback, despite it's current market cap.

August 08, 2003 09:06 am ET (#16)
TwigTwister
Loyal Fan

2 posts
09-18-02

Hey guys, I believe the second figure in US$ is just the conversion rate to US$, not how much the US made for them. Their US sales is probably to pityful to even publish. :)

Twig

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