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Whether you're walking a tightrope or scribbling in your checkbook, balance is a good thing. And, one of the best ways to evaluate a company is to glance at its balance sheet to see what it owns with what it owes.
The balance sheet is a paragon of simplicity and is made up of three components: assets (the stuff it owns), liabilities (the money it owes), and shareholders' equity (the company's value to its shareholders).
Assets take two forms: short-term (or current) assets and long-term assets. Under short-term, there¿s good ol' hard cash. Then, there¿s something called "cash equivalents," which are assets like short-term bonds that can be sold so quickly, they might as well be cash. There you factor in inventory, which (if you're a reasonably competent business owner) you can sell to customers in return for--you guessed it--cash. (The raw materials a company owns to make that inventory also falls under this category.)
Long-term assets are things that are harder to convert into cash. (Think real estate and equipment.) Long-term assets depreciate, meaning they lose some value over time. Also under the long-term category are what's called intangible assets: things like patents and brands, that are important, but hard to quantify. Accountants earn their stripes figuring out the real overall value of these assets.
Once you know your assets, it's time for liabilities. As with assets, liabilities are separated into short-term or current, and long-term. Current liabilities are what a company owes in that year: Things like payments to employees or accounts payable to suppliers. Long-term liabilities are debts paid over several years.
Shareholders' equity is determined by subtracting the liabilities from the assets. That number represents the value of the company after all its bills are paid.
Obviously, investors should pay close attention to balance sheets. Spikes in the amount of debt carried, or a reduction in shareholders' equity, are usually red flags.
Home / Markets / Industries / Technology
Wednesday, May 14, 2008
Activision's Cabela's Legendary Adventures to Bring Hunting's Greatest Tales to Life
Comtex
SANTA MONICA, Calif., May 14, 2008 (BUSINESS WIRE) ----Activision, Inc. (Nasdaq: ATVI) announced today the upcoming release of Cabela's Legendary Adventures for PlayStation(R)2 computer entertainment system, PSP(R) (PlayStation(R)Portable) system, and Wii(TM). The latest title in the best-selling Cabela's franchise will allow players to relive the greatest hunting stories ever told. The game will hit shelves in Fall 2008.
"In Cabela's Legendary Adventures the missions are based on encounters with some of the most famous animals ever hunted in the wild," said Dave Oxford, Activision Publishing. "Focusing on these amazing once-in-a-lifetime stories has really allowed us to capture the essence of what hunting is all about - a quest for a legendary experience."
Players will hunt in different eras in search of trophies such as white-tailed deer, Yukon moose, Alaskan brown bear and Roosevelt elk in over ten of North America's top hunting locations, including Kodiak Island, the Yukon and the Rocky Mountains. Each location in Cabela's Legendary Adventures is a visually stunning open outdoor environment that encourages exploration and tactical variation. Shooting mechanics have been developed to reflect modern as well as historical hunting technology, so players relive the hunts complete with detail from specific time periods.
Under Cabela's guidance, the firearms, tactics and gear in Cabela's Legendary Adventures are as true to real life as a game will allow. The title will also include a large variety of additional hunts featuring over 30 species of other big game, small game, waterfowl, upland birds and turkey.
Cabela's Legendary Adventures is scheduled for release in Fall 2008. For more information visit www.activision.com.
Cabela's
Cabela's Incorporated, headquartered in Sidney, Nebraska, is a leading specialty retailer, and the world's largest direct marketer, of hunting, fishing, camping and related outdoor merchandise. Since the Company's founding in 1961, Cabela's(R) has grown to become one of the most well-known outdoor recreation brands in the world, and has long been recognized as the World's Foremost Outfitter(R). Through Cabela's growing number of retail stores and its well-established direct business, it offers a wide and distinctive selection of high-quality outdoor products at competitive prices while providing superior customer service. Cabela's also issues the Cabela's CLUB(R) Visa credit card, which serves as its primary customer loyalty rewards program. Cabela's stock trades on the New York Stock Exchange under the symbol "CAB."
About Activision, Inc.
Headquartered in Santa Monica, California, Activision, Inc. is a leading worldwide developer, publisher and distributor of interactive entertainment and leisure products. Founded in 1979, Activision posted net revenues of $1.5 billion for the fiscal year ended March 31, 2007.
Activision maintains operations in the U.S., Canada, the United Kingdom, France, Germany, Ireland, Italy, Sweden, Spain, the Netherlands, Australia, Japan and South Korea. More information about Activision and its products can be found on the company's World Wide Web site, which is located at www.activision.com.
Cautionary Note Regarding Forward-looking Statements: Information in this press release that involves Activision's expectations, plans, intentions or strategies regarding the future are forward-looking statements that are not facts and involve a number of risks and uncertainties. In this release they are identified by references to dates after the date of this release and words such as "will," "will be," "remains," "to be," "plans," "believes", "may", "expects," "intends," and similar expressions. These risks and uncertainties include, but are not limited to, sales of Activision's titles, shifts in consumer spending trends, the seasonal and cyclical nature of the interactive game market, Activision's ability to predict consumer preferences among competing hardware platforms (including next-generation hardware), declines in software pricing, product returns and price protection, product delays, retail acceptance of Activision's products, adoption rate and availability of new hardware and related software, industry competition, rapid changes in technology and industry standards, protection of proprietary rights, maintenance of relationships with key personnel, customers, vendors and third-party developers, international economic and political conditions, integration of recently acquired subsidiaries and identification of suitable future acquisition opportunities, limitations on our ability to issue stock and options and foreign exchange rate changes. Other factors that could cause Activision's actual future results to differ materially from those expressed in the forward-looking statements set forth in this release include, without limitation, the further implementation, acceptance and effectiveness of the remedial measures recommended or adopted by the special sub-committee of independent directors established in July 2006 to review Activision's historical stock option granting practices, the board and Activision; the outcome of the SEC's formal investigation and the derivative litigation filed in July 2006 against certain current and former directors and officers of Activision relating to Activision's stock option granting practices, the possibility that additional claims and proceedings will be commenced, including additional stockholder litigation, employee litigation, and additional action by the SEC and/or other regulatory agencies, other litigation (unrelated to stock option granting practices), and the risks identified in Activision's most recent annual report on Form 10-K and recent reports on Form 8-K. The forward-looking statements in this release are based upon information available to Activision as of the date of this release, and Activision assumes no obligations to update any such forward-looking statement. Forward-looking statements believed to be true when made may ultimately prove to be incorrect. These statements are not guarantees of future performance and are subject to risks, uncertainties and other factors, some of which are beyond our control and may cause actual results to differ materially from our current expectations.
(C)2008 Activision Publishing, Inc. Activision is a registered trademark of Activision Publishing, Inc.
Wii and Nintendo DS are trademarks of Nintendo. (C) 2006 Nintendo. All other trademarks and trade names are the properties of their respective owners.
"PlayStation", "PLAYSTATION" and "PS" Family logo are registered trademarks of Sony Computer Entertainment Inc.
All other trademarks are the property of their respective owners.
SOURCE: Activision, Inc.
Sandbox Strategies Jennifer Varon, 212-213-2451 x227 jennifer@sandboxstrat.com
Copyright Business Wire 2008
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