Source: NCsoft RSS FEED

SEOUL, South Korea, May 15, 2008 NCsoft Corporation (KSE: 036570.KS) today announced financial results for the quarter ended March 31, 2008. On a consolidated basis, sales came to KRW (Korean Won) 88.1 billion (US $84.3 million), operating income of KRW 19.7 billion (US $18.9 million), and net profit of KRW 8.1 billion (US $7.7 million). Operating profit showed significant improvements quarter over quarter (63%) and year over year (16%).

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Usually the NCsoft quarterly reports have some interesting information. I didn't see anything too exciting this time. When they're going to announce the games for the Playstation 3. Did I miss that? Also, Aion... is that game going to go anywhere? Is it going to be a match for Conan, Warhammer or Warcraft?

Things are really quiet about Guild Wars 2. I thought that there would be some new information about the game, as isn't the beta supposed to be soon? What about Exteel? How's that doing? I didn't see any new news about that either. Is NCcoin working? How are advertisements in games doing?

I don't see how this report would assist me if I was planning on investing in NCsoft. They like to try new things, but roughly 90% of the business is based around two franchises - Guild Wars and Lineage.

Online Games Sales Mix

• Lineage 35%
• Lineage II 43%
• CoH / CoV 7%
• Guild Wars 12%
• Tabula Rasa 2%
• Others 649 1%

I didn't find this quarter's report to be very insightful. Although, it is reporting on a typically slow period for gaming. I thinking that things should start heating up during the summer.

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Michael Garofalo
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