SANTA MONICA, Calif.,
May 31, 2012 /PRNewswire/ --
Activision Blizzard, Inc. (Nasdaq: ATVI) today announced that all
parties to the litigation have reached a settlement of the dispute,
the terms of which are strictly confidential.
The company does not believe that the incremental one-time
charges related to the settlement will result in a material impact
on its GAAP or non-GAAP earnings per share outlook for the current
quarter or the calendar year, due to stronger-than-expected
operating performance in the current quarter.
About Activision Blizzard
Headquartered in Santa Monica,
California, Activision Blizzard, Inc. is a leading online,
PC, console, handheld and mobile game publisher worldwide with
leading positions across key categories of interactive
entertainment.
Activision Blizzard maintains operations in North America, Latin
America, Europe,
Australia, South Korea and China. More information
about Activision Blizzard and our games can be found on the
company's website, www.activisionblizzard.com.
Cautionary Note Regarding Forward-looking Statements:
Information in this press release that involves Activision
Blizzard's expectations, plans, intentions or strategies regarding
the future, including statements about the company's
earnings, are forward-looking statements that are not facts and
involve a number of risks and uncertainties.
Activision Blizzard generally uses words such as "outlook,"
"will," "could," "should," "would," "might," "to be,"
"plans," "believes," "may," "expects," "intends," "anticipates,"
"estimate," "future," "plan," "positioned," "potential," "project,"
"remain," "scheduled," "set to," "subject to," "upcoming" and
similar expressions to identify forward-looking statements.
Factors that could cause Activision Blizzard's actual future
results to differ materially from those expressed in the
forward-looking statements set forth in this release include, but
are not limited to, sales levels of Activision Blizzard's titles,
increasing concentration of titles, shifts in consumer spending
trends, the impact of the current macroeconomic environment and
market conditions within the video game industry, Activision
Blizzard's ability to predict consumer preferences, including
interest in specific genres such as first-person action and
massively multiplayer online games and preferences among competing
hardware platforms, the seasonal and cyclical nature of the
interactive game market, changing business models including digital
delivery of content, competition, including from used games and
other forms of entertainment, possible declines in software
pricing, product returns and price protection, product delays,
adoption rate and availability of new hardware (including
peripherals) and related software, rapid changes in technology and
industry standards, litigation risks and associated costs,
protection of proprietary rights, maintenance of relationships with
key personnel, customers, licensees, licensors, vendors, and
third-party developers, including the ability to attract, retain
and develop key personnel and developers that can create high
quality "hit" titles, counterparty risks relating to customers,
licensees, licensors and manufacturers, domestic and international
economic, financial and political conditions and policies, foreign
exchange rates and tax rates, and the identification of suitable
future acquisition opportunities and potential challenges
associated with geographic expansion, and the other
factors identified in the risk factors section of Activision
Blizzard's most recent annual report on Form 10-K. The
forward-looking statements in this release are based upon
information available to Activision Blizzard as of the date of this
release, and Activision Blizzard assumes no obligation to update
any such forward-looking statements. Although these
forward-looking statements are believed to be true when made, they
may ultimately prove to be incorrect.
These statements are not guarantees of the future performance of
Activision Blizzard and are subject to risks, uncertainties and
other factors, some of which are beyond its control and may cause
actual results to differ materially from current expectations.
SOURCE Activision Blizzard, Inc.