FORM 6-K
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Report of Foreign Issuer
Pursuant to Rule 13a-16 or 15d-16 of
the Securities Exchange Act of 1934
For the month of February, 2005
Commission File Number: 0-23696
RADICA GAMES LIMITED
(Translation of registrant's name into English)
Suite V, 6/F., 2-12 Au Pui Wan Street, Fo Tan, Hong Kong
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual
reports under cover of Form 20-F or 40-F
Form 20-F X Form 40-F
---------- ---------
Indicate by check mark if the registrant is submitting the Form 6-K in
paper as permitted by Regulation S-T Rule 101(b)(1):
Indicate by check mark if the registrant is submitting the Form 6-K in
paper as permitted by Regulation S-T Rule 101(b)(7):
Indicate by check mark whether the registrant by furnishing the
information contained in this Form is also thereby furnishing the information to
the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of
1934.
Yes No X
--------- ---------
If "Yes" is marked, indicate below the file number assigned to the
registrant in connection with Rule 12g3-2(b): 82- _____________________________
Contents:
1. Press Release dated February 14, 2005 (2 releases)
2. Press Release dated January 25, 2005
3. Press Release dated January 19, 2005
4. Press Release dated January 4, 2005 (2 releases)
This Report on Form 6-K shall be deemed to be incorporated by reference
into the Registrant's Registration Statements on Form S-8 (No. 33-86960, No.
333-7000, No. 333-59737, No. 333-61260 and No. 333-122248) and on Form F-3 (No.
333-7526 and No. 333-79005).
SIGNATURE
Pursuant to the requirements of Securities Exchange Act of 1934, the registrant
has duly caused this report to be signed on its behalf by the undersigned,
thereunto duly authorized.
RADICA GAMES LIMITED
Date: February 16, 2005 /s/ CRAIG D. STOREY
---------------------------- -----------------------------
Craig D. Storey
Chief Accounting Officer
2
RADICA GAMES LIMITED
REPORTS 2004 FOURTH QUARTER AND
FULL YEAR RESULTS
FOR IMMEDIATE RELEASE CONTACT: PATRICK S. FEELY
FEBRUARY 14, 2005 CHIEF EXECUTIVE OFFICER
(LOS ANGELES, CALIFORNIA)
(626) 744 1150
DAVID C.W. HOWELL
PRESIDENT ASIA OPERATIONS
& CFO
(HONG KONG)
(852) 2688 4201
HIGHLIGHTS:
o Q4 sales grew by 26% due to strong late demand for 20Q and Gamester
Race Pac
o The Company took a non cash, impairment charge of $3.5 million against
Gamester goodwill
o Q4 diluted EPS was $0.10 per share before the impairment charge
consistent with expectations and ($0.09) per share after the
impairment charge
o Q4 earnings were also impacted by charges totaling $0.6 million for
royalty guarantee reserves for an under-performing license as well as
inventory charges for discontinued product lines
o Full year sales grew by 17% due to sales of Play TV Legends and 20Q
and earnings were 36 cents per diluted share before the impairment
charge and 18 cents after the impairment charge
o Full year pretax profit before the impairment charge declined by 19%
due to mix shift to lower margin Play TV Legends sales, increased
airfreight and outsourcing costs due to increases in demand in Q3 and
Q4, and increased selling and advertising expenses
o Full year and Q4 profit after tax comparisons to 2003 were impacted by
a large tax credit recorded in Q4 2003
(HONG KONG) Radica Games Limited (NASDAQ: RADA) announced today its results for
the financial year ended December 31, 2004 and Q4 2004. The Company reported a
net profit for the year of $3.5 million or $0.18 per diluted share compared to
$12.5 million or $0.66 per diluted share for 2003. Net loss for the quarter was
$1.6 million or $0.09 per diluted share compared to net profit of $7.3 million
or $0.38 per diluted share in Q4 2003 reflecting the impact of a pretax non-cash
charge of $3.5 million for impairment of goodwill for the Gamester business
acquired in 1999, $0.6m in charges against an underperforming license guarantee
and inventory reserves for certain discontinued product lines and the favorable
tax credit recorded in 2003. Pretax profits for the full year were also impacted
by the charges mentioned above and were $4.3 million after these charges
compared to $9.6 million in 2003 and pretax loss of $2.0 million for Q4 compared
to pretax profit of $4.1 million in Q4 of 2003. Profit after tax comparisons to
2003 were impacted by a $2.9 million, or 15 cents per share, tax credit in full
year 2003 and a $3.2 million, or 17 cents per share, tax credit in Q4 of 2003.
Tax rates for 2004 resulted in a significant increase in tax expense compared to
2003 of $2.8 million for the quarter and $3.7 million for the full year.
Following a review for impairment of the value of goodwill at year end, the
Company took an impairment charge of $3.5 million reducing goodwill related to
the Gamester Video Game Accessory business acquired in 1999, to $6.0 million.
As previously reported in December, profitability for the 4th quarter was
affected by the reduction in orders from a major customer that normally accounts
for about one third of 4th quarter sales. Other factors affecting profit margins
were a mix shift to lower margin Play TV Legends sales, increased material and
shipping costs, increased advertising and selling expenses, and increased
external programming costs for 2005 Play TV products.
Pat Feely, Radica's CEO said, "4th quarter results excluding the impairment
charge were consistent with the profit expectations we announced in December.
While profits were offset by the goodwill impairment charge, sales exceeded
expectations due to strong late demand and improvements in availability for 20Q
and Gamester Race Pac. We are encouraged that the strong demand on these items
seems to be carrying over into Q1."
"Overall 2004 was a challenging year where our late introduction of the Play TV
Legends product line created a significant increase in demand in excess of our
production capacity in our factory resulting in lost sales as well as high
airfreight and outsourcing costs that hurt our profit margins. Without the
impact of these factors and the impairment charge, we would have shown a
significant increase in operating profits for the year. In 2005 we do not expect
to have any meaningful capacity issues since there are no late introductions
planned in our factory and we are also increasing our production capacity
significantly, which we have previously announced. As a result, we expect an
increase in operating profits for 2005. However, I would caution that in spite
of planned sales growth in Q1 of 2005, our results in Q1 are likely to be
affected by the acceleration of Easter advertising expenses from April into
March due to the early Easter this year, as well as by substantial Play TV
programming expenses occurring in the first quarter. These R&D programming
expenses are due to the completion of development for our aggressive new
launches in the important TV game market segment including Play TV Baseball 3,
Basketball, Soccer and Golf."
"In spite of the issues we faced in 2004, we feel it was also a year of
important accomplishments for Radica toward our long term strategic goals. We
established major new products for the company that have long term potential
including our hit 20Q, the Play TV Legends line, the Girl Tech Photo Booth, and
the Gamester Race Pac among others. These products plus our new product launches
for 2005 give us strong hopes for the coming year. In addition we have made
significant progress in growing our international business as well as our
business with electronics retailers. This has made us less dependent on large
mass-market retailers and will open new opportunities for the future," said
Feely.
"We also were profitable in our Gamester video game accessory business (VGA) for
the first time since its acquisition in 1999, even though the profits were below
our plans for 2004. The reduction in the level of VGA profits in comparison to
our original budget has led to an impairment analysis of our goodwill and
recognition of an impairment charge of $3.5 million. We are, however, pleased
with the progress we are making with our new Gamester strategy focusing on
higher margin proprietary products. Finally, we are on schedule in the expansion
of our manufacturing facilities in China and plan to have extra capacity
available to support the growth we are planning. We feel that these
accomplishments put us in a great position to deliver solid earnings growth in
the future," said Feely.
Sales for the year increased by 17.3% to $123.4 million from $105.2 million in
2003 due to the success of Play TV Legends, 20Q and Race Pac among other items.
Sales for Q4 2004 increased 25.9% to $43.5 million as compared to $34.6 million
for the same period in 2003.
The following table shows the detailed revenue comparisons for the quarter and
the full year by segment:
Three months ended December 31, Twelve months ended December 31,
------------------------------- --------------------------------
Product Lines 2004 2003 2004 2003
------------- ----------- ---------- ----------- -----------
(US$ in thousands)
Games and Youth Electronics Segment
Electronic Games $ 28,849 $ 22,269 $ 80,640 $ 62,374
Youth Electronics 5,765 5,428 17,038 15,227
Other Electronic Toys 1,268 - 3,490 -
Manufacturing Services 1,968 1,190 9,008 10,386
---------- ---------- ----------- -----------
$ 37,850 $ 28,887 $ 110,176 $ 87,987
VGA Segment
Video Game Accessories $ 5,653 $ 5,044 $ 12,840 $ 14,294
Manufacturing Services - 625 383 2,919
---------- ----------- ----------- -----------
$ 5,653 $ 5,669 $ 13,223 $ 17,213
TOTAL $ 43,503 $ 34,556 $ 123,399 $ 105,200
========== =========== =========== ===========
Gross profit margin for the year was 33.9% compared to 37.9% for the year ended
December 31, 2003 and was 35.1% for the quarter compared to 40.3% for the
comparable period in 2003. This decrease in gross margin was in large measure
due to the impact of higher mix of our lower margin Play TV Legends line plus
the impact of a provision for an under-performing license and inventory reserves
for certain discontinued product lines.
Operating expenses increased to $39.5 million for the year from $31.0 million in
2003. The increase was due to variable expenses due to increased sales together
with increased advertising expenditure ($8.8 million in fiscal year ended 2004
compared to $6.2 million in fiscal year 2003), increased research and
development costs connected with external programming of software for Play TV
games and the $3.5 million charge for impairment of goodwill. For the quarter
ended December 31, 2004, operating expenses increased $8.0 million from the
comparative period in 2003 for similar reasons ($6.4 million of advertising
compared to $3.9 million in the 4th quarter of 2003 plus variable expense and
the impairment of goodwill).
At December 31, 2004 the Company had $40.1 million of cash and investment
securities, and net assets of $91.1 million as compared to $42.0 million and
$89.2 million, respectively, at December 31, 2003. There was no debt at December
31, 2004 and December 31, 2003. Inventories increased to $26.8 million from
$15.5 million at December 31, 2003, reflecting current sales growth rates and
the loss of expected shipments to a large customer in the 4th quarter of 2004 of
products that are largely expected to be reordered in the first half by that
same customer. Receivables increased to $18.4 million from $15.4 million at
December 31, 2003 also due to normal seasonality and higher sales.
The Company also commented that, in addition to its previously announced factory
expansion, it plans to significantly invest in new equipment for 2005 including
major expansion of its surface mount technology (SMT) capacity in compliance
with European lead free soldering regulations and replacement of certain factory
equipment with more efficient models. As a result total capital expenditures for
2005 will be in the range of $6 to $7 million.
On January 4, 2005, the Company declared a first quarter dividend for the year
of $0.045 per share, which was paid on January 31, 2005 and represented a 12.5%
increase in the prior dividend rate.
The foregoing discussion contains forward-looking statements
that involve risks and uncertainties that could cause actual
results to differ materially from projected results.
Forward-looking statements include statements about efforts
to attract or prospects for additional or increased
business, new product introductions and other statements of
a non-historical nature. Actual results may differ from
projected results due to various Risk Factors, including
Risks of Manufacturing in China, Dependence on Product
Appeal and New Product Introductions, and Dependence on
Major Customers, as set forth in the Company's Annual Report
on Form 20-F for the fiscal year ended December 31, 2003, as
filed with the Securities and Exchange Commission. See "Item
3. Key Information -- Risk Factors" in such report on Form
20-F.
Radica Games Limited (Radica) is a Bermuda company headquartered in Hong Kong
(NASDAQ: RADA). Radica is a leading developer, manufacturer and distributor of a
diverse line of electronic entertainment products including electronic games,
youth electronics, video game accessories and high-tech toys. Radica has
subsidiaries in the U.S.A., Canada and the U.K., and a factory in Dongguan,
Southern China. More information about Radica can be found on the Internet at
www.radicagames.com.
-- END --
RADICA GAMES LIMITED
CONSOLIDATED STATEMENTS OF OPERATIONS
(US dollars in thousands, Three months ended December 31, Twelve months ended December 31,
except per share data) ------------------------------- --------------------------------
2004 2003* 2004 2003*
------------- ------------ ------------ ------------
(unaudited) (unaudited) (unaudited) (unaudited)
Revenues:
Net sales $ 43,503 $ 34,556 $ 123,399 $ 105,200
Cost of goods sold
(exclusive of items shown separately below) (28,241) (20,634) (81,576) (65,350)
------------ ------------ ------------ ------------
Gross profit 15,262 13,922 41,823 39,850
------------ ------------ ------------ ------------
Operating expenses:
Selling, general and administrative expenses (12,605) (8,489) (30,071) (25,000)
Research and development (1,440) (1,075) (4,164) (3,895)
Depreciation and amortization (393) (457) (1,693) (2,033)
Impairment of goodwill (3,536) -- (3,536) --
Restructuring charge -- -- -- (87)
------------ ------------ ------------ ------------
Total operating expenses (17,974) (10,021) (39,464) (31,015)
------------ ------------ ------------ ------------
Operating (loss) income (2,712) 3,901 2,359 8,835
Net interest and other income 383 223 1,519 612
Foreign currency gain (loss), net 371 (58) 417 178
------------ ------------ ------------ ------------
(Loss) profit before income taxes (1,958) 4,066 4,295 9,625
Credit (provision) for income taxes 365 3,193 (839) 2,866
------------ ------------ ------------ ------------
Net (loss) profit $ (1,593) $ 7,259 $ 3,456 $ 12,491
============ ============ ============ ============
Net (loss) profit per share:
Basic $ (0.09) $ 0.40 $ 0.19 $ 0.69
============ ============ ============ ============
Diluted $ (0.09) $ 0.38 $ 0.18 $ 0.66
============ ============ ============ ============
Weighted average number of common and common
equivalent shares:
Basic 18,733,412 18,171,333 18,653,471 18,016,789
============ ============ ============ ============
Diluted 18,733,412 19,223,682 19,525,757 19,059,974
============ ============ ============ ============
Cash dividends declared per share
(4 cents declared and paid for each
quarter ended March 31, June 30,
September 30, and December 31, 2004) $ -- $ -- $ 0.16 $ --
============ ============ ============ ============
* Reclassified to conform with 2004 presentation
RADICA GAMES LIMITED
CONSOLIDATED BALANCE SHEETS
(US Dollars in thousands, except share data) December 31, December 31,
------------ ------------
2004 2003
------------ ------------
(unaudited)
ASSETS
Current assets:
Cash and cash equivalents $ 27,614 $ 13,944
Investment securities 12,456 28,009
Accounts receivable, net of allowances for doubtful accounts
of $148 ($251 as at December 31, 2003) 18,359 15,360
Inventories 26,818 15,503
Prepaid expenses and other current assets 3,374 2,748
Income taxes receivable 168 1,404
Deferred income taxes 1,850 1,706
------------ ------------
Total current assets 90,639 78,674
------------ ------------
Property, plant and equipment, net 11,480 11,908
------------ ------------
Goodwill 6,015 9,551
------------ ------------
Other assets 854 875
------------ ------------
Deferred income taxes, noncurrent 953 1,206
------------ ------------
Total assets $ 109,941 $ 102,214
------------ ------------
LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities:
Accounts payable $ 11,840 $ 7,390
Accrued payroll and employee benefits 1,486 1,353
Accrued expenses 5,251 3,976
Income taxes payable 287 339
------------ ------------
Total current liabilities 18,864 13,058
------------ ------------
Total liabilities 18,864 13,058
============ ============
Shareholders' equity:
Common stock
par value $0.01 each, 100,000,000 shares authorized, 18,738,112 shares
outstanding (18,225,204 as at December 31, 2003) 187 182
Additional paid-in capital 4,610 3,517
Retained earnings 85,909 85,437
Accumulated other comprehensive income 371 20
------------ ------------
Total shareholders' equity 91,077 89,156
------------ ------------
Total liabilities and shareholders' equity $ 109,941 $ 102,214
============ ============
RADICA GAMES LIMITED & 20Q.NET
ANNOUNCE 20Q LICENSING PLANS
FOR IMMEDIATE RELEASE CONTACT: PATRICK S. FEELY
FEBRUARY 14, 2005 CHIEF EXECUTIVE OFFICER
(LOS ANGELES, CALIFORNIA)
(626) 744 1150
DAVID C.W. HOWELL
PRESIDENT ASIA OPERATIONS
& CFO
(HONG KONG)
(852) 2688 4201
(HONG KONG) Radica Games Limited (NASDAQ: RADA) and 20Q.net Inc. announced today
plans to license the 20Q property to third-party companies. Additionally, they
have reached agreement with Brandgenuity LLC to act as the licensing agency of
record for the 20Q property. The companies jointly intend to pursue licenses of
the 20Q brand, artificial intelligence and game play for mobile phones,
web-based game sites, consumer electronics and consumer service applications
throughout the world. Brandgenuity was selected because of their experience and
track record in the licensing industry.
As part of the same announcement, Radica and 20Q.net have agreed to expand and
extend their licensing partnership in developing the 20Q brand and related
business opportunities.
"After a year in the marketplace, 20Q continues to amaze players who still want
to play it over and over again," said Pat Feely, Radica's CEO. "Brandgenuity's
passion for the brand, coupled with our extended partnership with 20Q.net, will
present a broader 20Q product offering in a variety of mediums, keeping
consumers clamoring for more."
"We knew what Radica and 20Q.net were thinking," says Andy Topkins, Managing
Director, Brandgenuity. "With the popularity of the 20Q.net web site and the
tremendous success of 20Q, there is incredible potential to bring the magic of
20Q to life in a variety of new ways."
Under terms of the 20Q.net extended agreement, Radica will have exclusive rights
to manufacture and distribute tabletop and new portable versions of the 20Q
electronic game based on the popular web site, 20Q.net and its "artificial
intelligence" version of the classic game of 20 Questions.
"Radica truly captured the essence and magic of our web site to create a unique
and compelling game in the portable version of 20Q," notes Robin Burgener,
President of 20Q.net Inc. and creator of 20Q. "As a leader in creating and
marketing innovative consumer products, Radica continues to be the perfect match
for developing and marketing a new variety of 20Q products that translate the
appeal of 20Q.net. We look forward to working jointly with Radica to expand 20Q
into new mediums as well as other countries around the world through new foreign
language versions currently under development."
Radica will introduce two new 20Q games at the American International Toy Fair
in New York, February 17-23, 2005. Both games will be distributed worldwide and
are expected to hit retail shelves in July.
The foregoing discussion contains forward-looking statements
that involve risks and uncertainties that could cause actual
results to differ materially from projected results.
Forward-looking statements include statements about efforts
to attract or prospects for additional or increased
business, new product introductions and other statements of
a non-historical nature. Actual results may differ from
projected results due to various Risk Factors, including
Risks of Manufacturing in China, Dependence on Product
Appeal and New Product Introductions, and Dependence on
Major Customers, as set forth in the Company's Annual Report
on Form 20-F for the fiscal year ended December 31, 2003, as
filed with the Securities and Exchange Commission. See "Item
3. Key Information -- Risk Factors" in such report on Form
20-F.
ABOUT RADICA GAMES LIMITED
Radica Games Limited (Radica) is a Bermuda company headquartered in Hong Kong
(NASDAQ: RADA). Radica is a leading developer, manufacturer and distributor of a
diverse line of electronic entertainment products including electronic games,
youth electronics, video game accessories and high-tech toys. Radica has
subsidiaries in the U.S.A., Canada and the U.K., and a factory in Dongguan,
Southern China. More information about Radica can be found on the Internet at
www.radicagames.com.
ABOUT 20Q
20Q.net Inc. has evolved from an experiment in artificial intelligence into a
software development firm, building its products on the capabilities of the 20Q
AI. 20Q.net's software and neural-net technology have applications in business,
education, behavioral targeting, mobile entertainment and games. The technology
is uniquely suited to low-bandwidth applications and small screen devices. The
brain child of Robin Burgener, a software architect from Ontario, Canada, it's
the AI with extreme stability.
ABOUT BRANDGENUITY LLC
Brandgenuity LLC, an independent boutique trademark licensing agency based in
New York, provides turnkey licensing services to owners of famous trademarks.
The agency's four principals, Jay Asher, Adina Avery-Grossman, Louis Drogin and
Andrew Topkins, have more than 50 years of combined licensing and marketing
experience. Brandgenuity agency services include strategic licensing planning,
prospecting, negotiation, licensee management and program administration.
Brandgenuity's clients include Snapple(R), Yoohoo(R), Mott's(R), World Poker
Tour(R) LeapFrog (R),This Old House(R), Sports Illustrated(R), French's
Mustard(R), Frank's RedHot(R) and Meow Mix(R).
-- END --
RADICA GAMES LIMITED
ANNOUNCES THE APPOINTMENT OF TED EISCHEID
AS PRESIDENT AND CHIEF OPERATING OFFICER
FOR IMMEDIATE RELEASE CONTACT: PATRICK S. FEELY
JANUARY 25, 2005 CHIEF EXECUTIVE OFFICER
(LOS ANGELES, CALIFORNIA)
(626) 744 1150
DAVID C.W. HOWELL
PRESIDENT ASIA OPERATIONS
& CFO
(HONG KONG)
(852) 2688 4201
(HONG KONG) Radica Games Limited (NASDAQ: RADA) announced today the appointment
of Ted Eischeid as President and Chief Operating Officer of Radica Games
Limited, effective January 31, 2005. Mr. Eischeid will report directly to Pat
Feely, Chief Executive Officer of the Company.
Pat Feely, Radica's Chief Executive Officer said, "We are excited to have Ted
join us at Radica. He is a seasoned industry executive with particular skills in
operational and financial management. Over the years we worked closely together
at the Toy Industry Association, where Ted preceded me as Chairman and during
the last 18 months on Radica's Board. Ted's arrival will strengthen our
management team and allow us to more aggressively pursue strategic growth
opportunities."
Mr. Eischeid has been a director of the Company since May 2003 and served as
Chairman of the Audit Committee. Most recently he was Vice President - Global
CDMA Partnership and Product Management for Motorola, Inc., a global leader in
wireless, automotive and broadband communications. Prior to that, he was Senior
Vice President and Chief Financial Officer of K12 Inc., a developer of online
curriculum for grades K-12; formerly President and CEO of Educational Insights,
Inc., a publicly traded developer, manufacturer and marketer of educational
products; and prior to that served as President of Revell-Monogram, Inc., an
international manufacturer and marketer of plastic hobby kits, where he lead a
successful initial public offering in 1991 and continued as President when the
company was acquired by Hallmark Inc. in 1994. Mr. Eischeid also served as Chief
Financial Officer of Arvey Corporation, a manufacturer and retailer of paper and
paper products, and began his career with Arthur Andersen & Co. He is a
Certified Public Accountant, a member of the Illinois Bar and a past Chairman of
the Toy Manufacturers of America. Mr. Eischeid received his Juris Doctor, cum
laude, degree from the Loyola University of Chicago School of Law, his MBA from
Northwestern University's Kellogg Graduate School of Management, and his BS
degree from Iowa State University.
The foregoing discussion contains forward-looking statements
that involve risks and uncertainties that could cause actual
results to differ materially from projected results.
Forward-looking statements include statements about efforts
to attract or prospects for additional or increased
business, new product introductions and other statements of
a non-historical nature. Actual results may differ from
projected results due to various Risk Factors, including
Risks of Manufacturing in China, Dependence on Product
Appeal and New Product Introductions, and Dependence on
Major Customers, as set forth in the Company's Annual Report
on Form 20-F for the fiscal year ended December 31, 2003, as
filed with the Securities and Exchange Commission. See "Item
3. Key Information -- Risk Factors" in such report on Form
20-F.
ABOUT RADICA GAMES LIMITED
Radica Games Limited (Radica) is a Bermuda company headquartered in Hong Kong
(NASDAQ: RADA). Radica is a leading developer, manufacturer and distributor of a
diverse line of electronic entertainment products including electronic games,
youth electronics, video game accessories and high-tech toys. Radica has
subsidiaries in the U.S.A., Canada and the U.K., and a factory in Dongguan,
Southern China. More information about Radica can be found on the Internet at
www.radicagames.com.
-- END --
RADICA GAMES LIMITED
ANNOUNCES LICENSE AGREEMENT
WITH CODEMASTERS(R) AND SEGA(R) TOYS
FOR IMMEDIATE RELEASE CONTACT: PATRICK S. FEELY
JANUARY 19, 2005 PRESIDENT & CEO
(LOS ANGELES, CALIFORNIA)
(626) 744 1150
DAVID C.W. HOWELL
PRESIDENT ASIA OPERATIONS
& CFO
(HONG KONG)
(852) 2688 4201
(HONG KONG) Radica Games Limited (NASDAQ: RADA) announced today a worldwide
licensing agreement with Codemasters Software Co Ltd and Sega Toys (a subsidiary
of Sega(R) corporation) to manufacture and distribute Arcade Legends(TM) Sega(R)
Mega Drive(TM) Sensible Soccer(TM) Plus. The multi-game unit will plug directly
into a TV set and allow players to play three classic games developed by
Sensible Software, including Sensible Soccer(TM), Cannon Fodder(TM) and
Mega-Lo-Mania(TM).
The product is expected to hit retail shelves in the fall of 2005 and will
retail for approximately (pound)29.99. The game is designed to replicate the
high quality of the original Sega Mega Drive versions and will feature two
controllers, enabling one or two player gameplay.
Pat Feely, Radica's President and CEO said, "Sensible Software was one of the
most important video game development houses of the nineties, creating fun,
highly playable games and building a huge following. By re-launching their
classic titles in an accessible plug and play format, Radica will be appealing
to those original fans and taking a fantastic gaming experience to a whole new
audience."
The foregoing discussion contains forward-looking statements
that involve risks and uncertainties that could cause actual
results to differ materially from projected results.
Forward-looking statements include statements about efforts
to attract or prospects for additional or increased
business, new product introductions and other statements of
a non-historical nature. Actual results may differ from
projected results due to various Risk Factors, including
Risks of Manufacturing in China, Dependence on Product
Appeal and New Product Introductions, and Dependence on
Major Customers, as set forth in the Company's Annual Report
on Form 20-F for the fiscal year ended December 31, 2003, as
filed with the Securities and Exchange Commission. See "Item
3. Key Information -- Risk Factors" in such report on Form
20-F.
ABOUT RADICA GAMES LIMITED
Radica Games Limited (Radica) is a Bermuda company headquartered in Hong Kong
(NASDAQ: RADA). Radica is a leading developer, manufacturer and distributor of a
diverse line of electronic entertainment products including electronic games,
youth electronics, video game accessories and high-tech toys. Radica has
subsidiaries in the U.S.A., Canada and the U.K., and a factory in Dongguan,
Southern China. More information about Radica can be found on the Internet at
www.radicagames.com.
ABOUT CODEMASTERS(R)
Codemasters is a leading developer and publisher of best-selling interactive
entertainment products for a global audience on current and future gaming
platforms and channels. Established in 1986, the company's dominant brands
include Colin McRae Rally, TOCA Race Driver, LMA Manager, the Club Football
range and Operation Flashpoint. The company is headquartered in Southam,
Warwickshire UK and maintains European operations in Germany, France, Spain, and
Benelux. The company has its US headquarters in New York. More information about
the company and its products is available online at http://www.codemasters.com
ABOUT SEGA(R) CORPORATION
Sega(R) Corporation is a worldwide leader in interactive entertainment both
inside and outside the home, encompassing consumer business, amusement machine
sales and amusement center operations. The company develops, publishes and
distributes interactive entertainment software products for a variety of
hardware platforms including PC, wireless devices, and those manufactured by
Nintendo, Microsoft and Sony Computer Entertainment, Inc. Sega(R) Corporation's
website is located at http://sega.jp.
-- END --
RADICA GAMES LIMITED
ANNOUNCES QUARTERLY CASH DIVIDEND
FOR IMMEDIATE RELEASE CONTACT: PATRICK S. FEELY
JANUARY 4, 2005 PRESIDENT & CEO
(LOS ANGELES, CALIFORNIA)
(626) 744 1150
DAVID C.W. HOWELL
PRESIDENT ASIA OPERATIONS
& CFO
(HONG KONG)
(852) 2688 4201
(HONG KONG) Radica Games Limited (NASDAQ: RADA) announced today that its Board
of Directors has declared a quarterly dividend of $0.045 per share. This
represents a $0.005 per share or 12.5% increase from the prior quarter's
dividend.
The dividend will be payable on January 31, 2005, to shareholders of record as
of January 20, 2005.
ABOUT RADICA GAMES LIMITED
Radica Games Limited (Radica) is a Bermuda company headquartered in Hong Kong
(NASDAQ: RADA). Radica is a leading developer, manufacturer and distributor of a
diverse line of electronic entertainment products including electronic games,
youth electronics, video game accessories and high-tech toys. Radica has
subsidiaries in the U.S.A., Canada and the U.K., and a factory in Dongguan,
Southern China. More information about Radica can be found on the Internet at
www.radicagames.com.
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RADICA GAMES LIMITED
CONTINUES SEGA(R) PARTNERSHIP WITH
STREET FIGHTER(R) II
FOR IMMEDIATE RELEASE CONTACT: PATRICK S. FEELY
JANUARY 4, 2005 PRESIDENT & CEO
(LOS ANGELES, CALIFORNIA)
(626) 744 1150
DAVID C.W. HOWELL
PRESIDENT ASIA OPERATIONS
& CFO
(HONG KONG)
(852) 2688 4201
(HONG KONG) Radica Games Limited (NASDAQ: RADA) announced today its continuing
partnership with Sega Toys (a subsidiary of Sega(R) Corporation) and plans to
manufacture and distribute Play TV(R) Legends Street Fighter(R) II Special
Champion Edition in honor of Capcom's 15th anniversary of the release of the
legendary video game, the first to introduce two-player fighting action. This
multi-game unit features two authentic six-button Sega(R) Genesis(TM)
controllers that plug into a TV and gives players all the action, characters and
grandmasters of the original, plus a special bonus game, Ghouls and Ghosts(TM).
Available in January 2005, the game will retail for $34.99 and is suitable for
ages 8 and up.
"Street Fighter II broke ground and revolutionized fighting games," said Pat
Feely, President and CEO, Radica Games Limited. "In keeping with the game's
spirit and what made it so very unique, this Play TV Legends game utilizes dual
controllers as part of Radica's modern take on plug-in video game
entertainment."
"Radica plays an important role in legendary arcade and video games," notes Mr.
Hideki Okamura, Senior Executive Officer, Consumer Division at Sega(R)
Corporation. "They are a leader in electronic entertainment and their innovative
products are a great match for our target audience."
"Street Fighter is one of the most renowned fighting franchises in video game
history," remarked Shuichi Tanaka, licensing manager, Capcom USA, Inc. "With its
anniversary, we are excited for an opportunity to provide new venues wherein
fans old and new can enjoy the phenomenon of the original game that created a
generation of video game fighters."
The foregoing discussion contains forward-looking statements
that involve risks and uncertainties that could cause actual
results to differ materially from projected results.
Forward-looking statements include statements about efforts
to attract or prospects for additional or increased
business, new product introductions and other statements of
a non-historical nature. Actual results may differ from
projected results due to various Risk Factors, including
Risks of Manufacturing in China, Dependence on Product
Appeal and New Product Introductions, and Dependence on
Major Customers, as set forth in the Company's Annual Report
on Form 20-F for the fiscal year ended December 31, 2003, as
filed with the Securities and Exchange Commission. See "Item
3. Key Information -- Risk Factors" in such report on Form
20-F.
ABOUT SEGA(R) CORPORATION
Sega(R) Corporation is a worldwide leader in interactive entertainment both
inside and outside the home, encompassing consumer business, amusement machine
sales and amusement center operations. The company develops, publishes and
distributes interactive entertainment software products for a variety of
hardware platforms including PC, wireless devices, and those manufactured by
Nintendo, Microsoft and Sony Computer Entertainment, Inc. Sega(R) Corporation's
website is located at http://sega.jp.
ABOUT CAPCOM(R)
Capcom is a leading worldwide developer, publisher and distributor of
interactive entertainment. Founded in 1979, the company has created world
renowned franchises including Resident Evil(R), Street Fighter(R), Mega Man(R),
Breath of Fire(R), Devil May Cry(R) and the Onimusha(TM) series. Headquartered
in Osaka, Japan, the company maintains operations in the U.S., United Kingdom,
Germany, Tokyo and Hong Kong. More information about Capcom and its products can
be found on the company's web site at www.capcom.com.
ABOUT RADICA GAMES LIMITED
Radica Games Limited (Radica) is a Bermuda company headquartered in Hong Kong
(NASDAQ: RADA). Radica is a leading developer, manufacturer and distributor of a
diverse line of electronic entertainment products including electronic games,
youth electronics, video game accessories and high-tech toys. Radica has
subsidiaries in the U.S.A., Canada and the U.K., and a factory in Dongguan,
Southern China. More information about Radica can be found on the Internet at
www.radicagames.com.
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