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Acclaim Reports Losses

by Steven Rodriguez - February 20, 2004, 1:57 pm PST
Total comments: 6 Source: Acclaim

Even after the cuts and release restructuring, the former publishing giant is still in the red.

Like the majority of game publishers, Acclaim's fiscal year ends in March. The company recently released its fiscal year 2004 third quarter sales, which includes the important Christmas season, and the outlook is not good.

In the three months leading up to the holiday, Acclaim reported a net loss of $9 million, which brings their three-quarters year loss total up to $31 million. While these losses are not as severe as they were at the same point in time last year, Acclaim's decision to thin out their game lineup and be more cautious in releasing titles brought in far less revenue than in years previous.

Acclaim hopes that this will be the last year in which their losses will be as severe as they currently are. The company expects to become profitable again in their 2005 fiscal year, and to get their floundering stock price above the $1.00 per share minimum that Nasdaq requires.

Talkback

Perfect CellFebruary 20, 2004

This was after Acclaim cut its Gamecube software development... So they cant blame Nintendo for their terrible games... Cynical, but im glad they lost money...

SearanoXFebruary 20, 2004

Eh, Acclaim was only really good with Turok...everything past there hasn't been worth getting. I'm not surprised they're doing badly.

DjunknownFebruary 20, 2004

Welll, 3do went away with the wind, will Acclaim follow along? Though I feel for the grunts, not neseccarliy (Sp?) the corporate masters. But let it be known: You push crap, you WILL go down the crapper. Maybe not right away, but in due time.

CaseyRybackFebruary 20, 2004

I hope that the new Legends of Wrestling is great, and pray that it includes the outsider's.

If it is it would def. help them out

KDR_11kFebruary 20, 2004

Eh? Some people actually ENJOYED Turok?

Rob91883February 21, 2004

I enjoyed the first Turok game, but didn't care for the sequels much because they didn‘t feel like the first one (plus I was to busy playing Golden eye).

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