Activision Announces Stock Buyback, Reaffirms Earnings Guidance

Under the program, which the company's Board of Directors approved, shares can be purchased on the open market or in privately negotiated transactions. As of June 30, the company had an impressive war chest of over half a billion dollars in cash and current assets. Activision also reaffirmed its previously released earnings per share guidance of 9 cents, and revenue guidance of $155 million for the fiscal quarter which ended September 30, 2002. The company will announce its earnings on October 29.