NCSOFT Reported For The Fourth Quarter

NCSOFT Reported For The Fourth Quarter

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For the fourth quarter 2007, consolidated net sales recorded KRW 89.1 billion (US$95.9 million), operating profit KRW 12.1 billion (US$13.0 million), pre-tax profit KRW 14.1 billion (US$15.2 million), and net profit KRW 10.3 billion (US$11.1 million). The previous quarter sales were KRW 80.1 billion, operating profit KRW 9.7 billion, pre-tax profit KRW 13.7 billion, and net profit KRW 10.1 billion. The sales and operating profit increased 11% and 24% respectively quarter over quarter and pre-tax profit and net profit increased 3% and 2% respectively. Sustained sales from the Lineage® series and the release of Richard Garriott's Tabula Rasa® in November 2007 were the primary reasons for the quarter over quarter sales growth.

By region, fourth quarter sales came to KRW 52.6 billion (US$56.6 million) in Korea, KRW 15.1 billion (US$16.3 million) in North America, KRW 8.5 billion (US$9.1 million) in Japan, KRW 7.2 billion (US$7.7 million) in Europe, and KRW 2.5 billion (US$2.7 million) in Taiwan. Compared to the previous quarter, Korea and North America recorded 21% and 11% increases respectively, and Japan saw an increase of 9% from the previous quarter thanks to the release of the recent Lineage II content update. The percentage breakdown of sales by region shows 59% in Korea, 17% in North America, 9% in Japan, 8% in Europe, 3% in Taiwan, and 4% from royalty income. Of total sales, 41% was derived from overseas.

Launched in the fourth quarter, Richard Garriott's Tabula Rasa recorded sales of KRW 5 billion (US$5.4 million). The percentage breakdown of sales by game title shows Lineage, Lineage II with 37% and 39%, respectively, followed by Guild Wars with 11%, City of Heroes/City of Villains with 6% and Richard Garriott's Tabula Rasa with 6%.

NCsoft West has reportedly laid off 20 percent of its staff, and CEO Jeff Anderson has also left the developer. The layoffs come ahead of the Guild Wars 2 developer's financial report for its fourth quarter.

While mobile game revenues were up huge in 2017, they did fall quarter over quarter. Guild Wars 2 reported strong sales growth in the 4th quarter thanks to the launch of the Path of Fire expansion. Lineage and Lineage 2 showed slight declines on PC while Aion and Blade and Soul reported some quarter over quarter growth.

NCSoft reports revenue in the month/quarter when the sale "happened" and not when they receive the cash flow / payment on their bank account. With the only exception that the revenue from pre-purchases is reported in the month of release (of the game/expansion).

BUT the release of EoD was in Februrary 2022. Fiscal regulations require a company to report revenue (and other matters) in the correct fiscal year. NCSofts fiscal year equals the calendar year. So it is possible, that NCSoft had to report (different to how they reported HoT and PoF pre-purchases) EoD-pre-purchases made in 2021 in the 2021 quarterly numbers and not in the release quarter in 2022. However, I have no information if this is really true for the EoD-pre-purchasees, or not.

Reporting on its fiscal-year end results today, NCsoft announced revenues of KRW634.7 billion ($546 million), up 83 percent year-over-year. Net income for the period settled at KRW185.4 billion ($160 million), up an impressive 623 percent from the same period a year ago. The Korean company's year-end results were bolstered by a strong fourth-quarter performance, in which profits soared 1,009 percent to KRW72.1 billion ($62 million) on revenues up 99 percent to KRW197.3 billion ($170 million).

NCSOFT published its financial report for the fourth quarter of 2022, spoke about its immediate plans, and also held a Q&A session with investors. You can get acquainted with the financial success of the company on the attached slides, the full version is at the link. 781b155fdc