NCSoft Q1 Earnings Down
Auto Assault delay evident in NCSoft earnings drop
Posting a 49% drop from projected Q1 earnings and a 45% drop in operating profits from Q4 2005, NCSoft now has investor confidence and nasty gadfly lawsuits to worry about.
South Korea's largest publisher of online games, announced today its first-quarter earnings had dropped by almost half due to the absence of new products. In the January-March period, net income reached 6.8 billion won (US$7.3 million), down 49 per cent from a year earlier, the company said in a regulatory filing.
If Auto Assault had released on schedule in late 2005, maybe NCSoft's earnings would have been a little more steady. No crying over spilled milk, though. Hopefully the April release of Auto Assault and Guild Wars Faction will get NCSoft's bottom line back on track.
Check out the NCSoft earnings alert at TMCNet.