Activision ( ATVI) on Thursday reported lower earnings and revenue for the just-ended quarter, although both were higher for its fiscal year 2003. The company also raised its revenue guidance for the current quarter by $10 million. The Santa Monica, Calif., video game publisher reported that net revenue for the fiscal year ended March 31 was $864.1 million, a 10% gain over 2002's $786.4 million. And net income was a record 96 cents a share, or $66.2 million, compared with $52 million, or 88 cents a share, in the prior year. The consensus of analysts polled by Thomson First Call was for annual earnings of 95 cents a share on sales of $853 million. Net revenue for the fourth quarter was $125 million, down sharply from the year-ago quarter, when revenue was $164.9 million. The company noted that sales for the quarter were lower partly because the company released just one title in the quarter vs. seven a year ago. Net income for the quarter was a loss of $8 million, or 13 cents per share, compared with a profit of 17 cents a year earlier. Analysts expected the 13-cent loss, but revenue is an upside surprise -- Wall Street was looking for $113 million. Activision raised its outlook for the first quarter of fiscal 2004 to $140 million in revenue and a loss per share of a penny. The company also provided an outlook for the second quarter of $130 million in revenue and earnings per diluted share of 5 cents. The company's full-year outlook remains unchanged at $750 million in revenue and 70 cents per share earnings.