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Acclaim's Q2 Loss May Be Last in Next Four Quarters
(MULTIMEDIA WIRE, Vol. 5, No. 67) -- Acclaim Entertainment [AKLM], after a
$1.2m dip into the red in Q2, will be profitable for the next two quarters, possibly the next
four, CEO Gregory Fischbach tells MMWire.
Acclaim had forecast a loss of $2m-$4m for the quarter (MMW, Jan. 14). But the company
reported Monday a net loss of $1.2m, or a basic and diluted loss of 2 cents/share. That
compares to net loss of $16.8m, or a basic and diluted loss of 34 cents/share, for the same
period last year.
As with most interactive entertainment industry companies, Acclaim's future profitability
hinges on is releasing titles on time, Fischbach says. If that happens, "we're looking good"
for the next four quarters, he adds, touting the soon-to-be-released Forsaken.
Acclaim will ship more than 250,000 units of Forsaken for PC later this month. While the
company has pegged a sell-in number for the PlayStation version in mid-May or the N64
version in late-May, Fischbach expects to ship more than 250,000 units for each console.
Revenues for the quarter were $69.3m, up from $52.3m for the same period last year.
For the six-month period, Acclaim reported net income of $6.8m, or a basic and diluted
gain of 13 cents/share. That compares to net loss of $35.8m, or a basic and diluted loss of
72 cents/share, for the same period last year. Revenues during the six-month period
climbed to $161.6m from $105.6m for the same period last year.
Acclaim's stock yesterday closed down 15/32, nearly 6.5%, at 6- 25/32. (Acclaim, Gregory
Fischbach, 516/656-5000)
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