The 3DO Company today announced the financial results for its second quarter 1998, which ended Sept. 30. Sales were up for the company compared with the same period a year ago, based mainly on the successes of ToCA Championship Racing for the PC and PlayStation and its Might and Magic VI and Army Men titles. 3DO reported net sales for the period of US$5.0 million, an increase of 178 percent from the $1.8 million the company took in during the same period in 1997. For the six months ending September 30, 1998, software revenue was $14.6 million, up 256 percent from the $4.1 million of a year prior.

　　Those sales figures weren't enough to keep the company in the black, however. 3DO reported a net loss of US$7.5 million (29 cents per share) for the quarter, which it said was "due primarily to planned operating expenses of $10.8 million as 3DO gears up for 11 new product releases that are planned for the second half of the fiscal year." In the second quarter of 1997, the company's revenue came primarily from the sale of its hardware business.

　　In the second half of its fiscal year, 3DO plans to release Uprising 2: Lead and Destroy for the PC, Uprising X for the PlayStation, and the already released Vegas Games 2000. The company has plans to release its first Nintendo game, BattleTanx, and the PlayStation version of Army Men 3D before the end of the year.

　　3DO did finish the second quarter with $24 million in cash on hand, it said that it has secured two lines of credit for an additional $40 million in capital.