NCsoft Q3 net down 50 pct on weak sales, higher costs

SEOUL, Nov. 12 (Yonhap) -- NCsoft Corp., South Korea's leading on-line game
company, said Wednesday that its third-quarter earnings fell 50 percent on-year
due to weaker sales and increased costs.
Net income amounted to 5 billion won (US$3.69 million) during the three months to
September, compared with 10.1 billion won a year earlier, the company said in a
regulatory filing.
Sales slipped 2 percent on-year to 78.2 billion won and operating profit tumbled
53 percent to 4.6 billion won, it added.
The company attributed a drop in on-line players to seasonal factors during the
quarter, as the summer season normally sees a drop in on-line activity. The
Beijing Olympics also lured more on-line gamers away from their computers, it
said.
NCsoft cited increased spending on participation in overseas gaming industry
trade shows to account for its costs.
Lee Jae-ho, NCsoft's chief financial officer, said that the company is working on
new titles to be released every year, starting with its upcoming massive
multi-online role playing game Aion.
odissy@yna.co.kr
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