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Activision profits drop 70 per cent

While full year net revenues were up slightly to $1,468m from last year’s $1,406m, fourth quarter results made for grim viewing as the publisher revealed a net loss of $9.2m. Q4 net revenues were also down to $188.1m, compared with $203.9m for the same period in the previous year.

Despite the disappointing results, Activision CEO and chairman Robert Kotick remained positive for the year ahead: “Our balance sheet remains one of the strongest in the industry. In fiscal 2006 we strengthened our market position although our operating results were impacted by the challenges of a console transition. We are planning for and investing in the market growth that historically follows the introduction of new console hardware.”

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