Infogrames reports strong financials
The French publisher sees an increase in net revenues and points to strong sales of games such as Driver 2 for its strong Q2 performance.
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Infogrames has announced that its net income for the second quarter of the 2001 fiscal year increased to $16.5 million, or $0.24 per share, compared with a net loss of $118.0 million, or $7.46 per share, for the same period last year. The company's revenues increased to $127.5 million, compared with $109.7 million for Q2 1999. The company cited the strong performance of games released during the quarter, such as Driver 2, which sold nearly 1.1 million units in the US and over 2 million units worldwide, as the reasons behind its success.
"The transformation of Infogrames during the second quarter began quickly with the closure of the Infogrames North America merger," said Bruno Bonnell, chairman and CEO of Infogrames. "This provided substantial talent to an already strong employee base and several franchises, including Unreal Tournament and Test Drive, as well as licenses such as Warner Bros.' Looney Tunes. In addition, the recent acquisition of Hasbro Interactive by Infogrames' parent company, Infogrames Entertainment SA, further supports our goal of strengthening Infogrames' brand awareness in the US through its popular franchises and licenses."
Infogrames recently announced that it has secured further licensing agreements with United Media and Warner Bros. for the Peanuts and La Femme Nikita properties, respectively.