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NCsoft Reports Rough Financial Returns

Posted Fri, Nov 14, 2008 by Medeor

NCsoft gets hammered (and not in the adult beverage “good” way).

Fifty percent is not the number you want to hear when discussing losses in revenue. Yet that is exactly what NCsoft reported earlier this week. This comes on the tail end of the news that
Richard Garriott is stepping down from Tabula Rasa (which might be seen as a good cut in payroll by some). From GamesIndustry.biz

The Korean publisher put its net income at KRW 5 billion (USD 3 million) down from KRW 6.6 billion (USD 4.8 million) the previous quarter and significantly down from KRW 10 billion (USD 7 million) for the same period last year.

The poor result is reflected in the company's operating income, which also fell almost 50 per cent, from KRW 7.9 billion (USD 5.8 million) to KRW 4.5 billion (USD 3.3 million). The company experienced an overall sales decline to KR 78,270,000,000.00 (USD 57.6 million) from KR 81,201,000,000.00 (USD 59.6 million).

With a culling of the payroll from previous months and now this latest financial return information leading the doom and gloom, there is a bit of silver lining for NCsoft in their Aion beta operations so I'm sure they will be fine over the long run.


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