Acclaim Reveals Financials

Acclaim announced this morning its financial results for the fiscal quarter ending May 31. Net revenues reached US$80 million this year, a nine percent increase over last year's $73.2 million. While still "in the black", however, net earnings were a moderate $100,000 - a significant drop from the $5.7 million posted during the same quarter last year.

"Our continued goal is to strengthen and foster our internal studios, which are responsible for the implementation of our brand building strategy,'' said CEO Gregory Fischbach. "The success of this strategy is reflected in our ability to garner revenue growth through classic products and sequels.''

Acclaim is set to ship both sequels and new brand-name products for fiscal Q4 99, including Re-Volt for the PC, N64 and PlayStation; NFL Quarterback Club 2000 for the N64; South Park for the PlayStation; WWF Attitude for the PlayStation and N64; and Shadow Man for the PC, PlayStation and N64. These titles, as well as future products like WWF Attitude for the Dreamcast and Chef's Luv Shack, should yield prosperous earnings for Acclaim in the near future.