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ACCLAIM GOES BROKE (AGAIN)
April 12, 2000
Acclaim Entertainment today reported results
for its fiscal 2000 second quarter ended February 29, 2000.
Net revenues for the quarter were $65.9 million vs. $135.7
million in the same period a year ago (down 51.4%). The Company
reported a net loss of $19 million or ($0.34) per fully diluted
share for the second quarter, compared with earnings of $14.5
million, or $0.21 per fully diluted share for the same period
last year.
"We continue to feel the impact of the declining
Nintendo 64 market," said Gregory Fischbach, Co-Chairman and
CEO of Acclaim. "Although we are disappointed with our performance,
we are diversifying our product mix and positioning ourselves
for the launch of the next generation systems from Sony, Nintendo
and Microsoft."
The Company's gross revenues by platform during
the quarter were as follows:
| System |
Q2 2000
|
Q2 1999
|
| Nintendo 64 |
37%
|
79%
|
| PlayStation |
28%
|
9%
|
| Dreamcast |
17%
|
N/A
|
| PC |
8%
|
6%
|
| Other |
10%
|
6%
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Sales from Nintendo software represented nearly
40% of gross revenue during the quarter, versus 28% of gross
revenue in the fiscal first quarter. The Company's gross profit
margin declined to 48%. During the quarter, Acclaim released
14 titles, including 4 on Nintendo 64, 2 on PlayStation, and
4 on Sega Dreamcast.
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