news on earnings..
Monday October 6 8:30 AM EDT
Company Press Release
Microprose (Formerly Spectrum Holobyte) Releases Preliminary 2nd Quarter Expectations
SALAMEDA, Calif., Oct. 6 /PRNewswire/ -- MicroProse, Inc. (Nasdaq:MPRS), formerly known as Spectrum HoloByte, Inc. (Symbol: SBYT) said today it
expected to report a net loss of $1.6 million to $2.3 million, or $.06 to $.08 per share, on revenues of $19 to $21 million for the second quarter ended September 30,
1997. In the same quarter a year ago, MicroProse earned $2.7 million, or $.09 per share, on revenues of $27.4 million.
The company said it was providing a preliminary indication of results in conjunction with its pending merger with G.T. Interactive, which was announced yesterday.
Stephen M. Race, MicroProse's chief executive officer, said that the second fiscal quarter, which typically reflects the seasonal slowness of the spring and summer
months for interactive games, was further marked by softer than usual demand in Europe. Europe accounts for approximately 60 percent of the company's revenues.
''One of the two new products we introduced during the quarter just ended -- XCOM Apocalypse -- has already shipped 185,000 units. We are still planning to
release at least five new titles in the current quarter and at least five more titles in the post-holiday fourth fiscal quarter. These products will provide us with a strong
launching pad as the merger with G.T. Interactive is completed later this year. With MicroProse's strong title lineup and G.T.'s exceptional distribution and marketing
expertise, we are confident the combined company will be a formidable competitor in the interactive publishing marketplace going forward.''
Some of the key products under development for the next 5 to 6 quarters include: Falcon(R) 4.0, MechWarrior(R) III, MechCommander(TM), European Air
War(TM), Guardians: Agents of Justice(TM), Star Trek First Contact(TM), Starship Troopers(TM), M1 Tank Platoon(R) II, X-COM: Interceptor(TM), Star Trek:
Klingon Honor Guard(TM), MiG-29(TM), expansion disks for Magic: The Gathering(R) including multiplayer and tournament capabilities, and updated Civilization
products.
MicroProse is a leading developer and publisher of interactive entertainment software for use on CD-ROM-based personal computer systems, published under the
MicroProse(R) brand name. The company also publishes software for use on next generation 32/64-bit console machines, the Internet and on-line gaming services.
The company's five development studios are located in: Alameda, California; Hunt Valley, Maryland; Chapel Hill, North Carolina; Chipping Sodbury, England; and
Austin, Texas. Products are available nationally and internationally through major distributors, retailers, mass merchants and on the company's World Wide Web
microprose.com.
This document may contain forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those
projected. In particular, as with all software products, until all aspects of the development and initial distribution of the company's games are completed, there can be
no assurance of product release dates. For a discussion of additional factors that could cause actual results to differ, please see the company's publicly available
Securities and Exchange Commission filings, including its annual report on Form 10-K dated March 31, 1997, particularly the discussion of risk factors on pages 21 to
28 of that document.
STAR TREK and related marks are trademarks of Paramount Pictures. MAGIC: THE GATHERING is a registered trademark of Wizards of the Coast, Inc.
MechWarrior is a registered trademark and MechCommander is a trademark of FASA Corporation. 7TH LEGION is a trademark of Epic MegaGames.
STARSHIP TROOPERS is a trademark of TriStar Pictures. MicroProse is an authorized user and official licensee of these marks. FALCON, MI TANK
PLATOON, X-COM, SID MEIER'S CIVILIZATION, and MICROPROSE are registered trademarks and EUROPEAN AIR WAR, GUARDIANS: AGENTS
OF JUSTICE, X-COM: INTERCEPTOR and X-COM: APOCALYPSE are trademarks of MicroProse, Inc. or its subsidiaries. |
