Acclaim Entertainment, Inc. Reports Results for Third Quarter of Fiscal Year 2004.
GLEN COVE, N.Y., Feb. 17 /PRNewswire-FirstCall/ -- Acclaim Entertainment, Inc. (Nasdaq: AKLM - News) today announced its financial results for the third quarter of fiscal year 2004 ended December 28, 2003. During the third quarter of fiscal year 2004, the Company reported net revenue of $39.3 million and a net loss of $9.0 million or $0.08 per diluted share for the three months ended December 28, 2003, compared to net revenue of $63.1 million and a net loss of $13.9 million or $0.15 per diluted share for the three months ended December 1, 2002.
For the nine months of fiscal 2004, Acclaim reported a net loss of $31.0 million or $0.30 per diluted share on net revenue of $113.7 million compared to a net loss of $39.6 million or $0.43 per diluted share on net revenue of $180.1 million during the comparable period of the prior year.
Gross Profit
The Company's gross profit for the three months was 49% of net revenue ($19.3 million) compared to 48% of net revenue ($30.4 million) for the comparable period of the prior year. The gross profit percentage increase in the third quarter was primarily the result of lower per unit costs of catalogue products sales in the current year and a $5.2 million decrease in the amortization of capitalized software development costs. Gross profit for the nine months of fiscal 2004 was $53.4 million (47% of net revenue) compared to $87.4 million (49% of net revenue) for the comparable period of the prior year. The gross profit percentage decrease for the nine months of fiscal 2004 was primarily due to a lower number of units sold at lower average selling prices per unit as compared to the comparable period of the prior year.
Operating Expenses and Other Expenses
As part of the Company's operating plan, operating expenses for the three months ended December 28, 2003, decreased by 37% ($15.8 million) to $26.7 million from $42.5 million for the comparable period of the prior year. Operating expenses for the nine months of fiscal 2004 decreased by 37% ($44.2 million) to $77.1 million from $121.3 million for the comparable period of the prior year. These decreases resulted primarily from management's planned reductions in the Company's marketing and selling expenses, its general and administrative expenses, and its research and development costs.
Gross Revenue
The following table details the Company's gross revenue by platform, studio, segment and new title releases:
http://biz.yahoo.com/prnews/040217/nytu229_1.html
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Sieht ja nicht gerade gut für denen aus. Bis auf BurnOut hatten sie ja nichts wirklich hervorragendes vorzuweißen und nach dem sie die Publisher Rechte zu Burn Out aus finanziellen Gründen an EA abgeben mussten ist selbst das weg. Hoffentlich hat sich zumindest ihre Verschieberei auf 2004 gelohnt und überraschen uns mit guten Spielen.
GLEN COVE, N.Y., Feb. 17 /PRNewswire-FirstCall/ -- Acclaim Entertainment, Inc. (Nasdaq: AKLM - News) today announced its financial results for the third quarter of fiscal year 2004 ended December 28, 2003. During the third quarter of fiscal year 2004, the Company reported net revenue of $39.3 million and a net loss of $9.0 million or $0.08 per diluted share for the three months ended December 28, 2003, compared to net revenue of $63.1 million and a net loss of $13.9 million or $0.15 per diluted share for the three months ended December 1, 2002.
For the nine months of fiscal 2004, Acclaim reported a net loss of $31.0 million or $0.30 per diluted share on net revenue of $113.7 million compared to a net loss of $39.6 million or $0.43 per diluted share on net revenue of $180.1 million during the comparable period of the prior year.
Gross Profit
The Company's gross profit for the three months was 49% of net revenue ($19.3 million) compared to 48% of net revenue ($30.4 million) for the comparable period of the prior year. The gross profit percentage increase in the third quarter was primarily the result of lower per unit costs of catalogue products sales in the current year and a $5.2 million decrease in the amortization of capitalized software development costs. Gross profit for the nine months of fiscal 2004 was $53.4 million (47% of net revenue) compared to $87.4 million (49% of net revenue) for the comparable period of the prior year. The gross profit percentage decrease for the nine months of fiscal 2004 was primarily due to a lower number of units sold at lower average selling prices per unit as compared to the comparable period of the prior year.
Operating Expenses and Other Expenses
As part of the Company's operating plan, operating expenses for the three months ended December 28, 2003, decreased by 37% ($15.8 million) to $26.7 million from $42.5 million for the comparable period of the prior year. Operating expenses for the nine months of fiscal 2004 decreased by 37% ($44.2 million) to $77.1 million from $121.3 million for the comparable period of the prior year. These decreases resulted primarily from management's planned reductions in the Company's marketing and selling expenses, its general and administrative expenses, and its research and development costs.
Gross Revenue
The following table details the Company's gross revenue by platform, studio, segment and new title releases:
http://biz.yahoo.com/prnews/040217/nytu229_1.html
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Sieht ja nicht gerade gut für denen aus. Bis auf BurnOut hatten sie ja nichts wirklich hervorragendes vorzuweißen und nach dem sie die Publisher Rechte zu Burn Out aus finanziellen Gründen an EA abgeben mussten ist selbst das weg. Hoffentlich hat sich zumindest ihre Verschieberei auf 2004 gelohnt und überraschen uns mit guten Spielen.
zusammen mit midway und eidos ist das wohl zur zeit der publsisher den ich meisten verabscheue!
bevor die solchen Schrott auf den Markt werfen sollen sie halt nochmal auf das bisherige Ergebnis n Blick werfen.