Acclaim Entertainment announced Tuesday that its third-quarter earnings and revenues were up.
Net revenues for the quarter ending last May 31 totaled US$73.2 million with net earnings at $5.7 million. In the same quarter last year the company lost almost $70 million on $41 million in revenues.
Net revenues for the first three quarters of the 1998 fiscal year totaled $234.8 million, a 59-percent increase of the same nine-month period last fiscal year.
Acclaim attributes the success to the big Acclaim Sports titles like All-Star Baseball '99 and Jeremy McGrath Supercross '98 as well as the relatively successful Forsaken and Bust-A Move 2.
"We remain focused on our product strategy of developing high-quality titles and key brands, promoted through targeted marketing initiatives including national television advertisements," said Gregory Fischbach, chairman and CEO of Acclaim. "We continue to accrue benefits from our cost-reduction strategies as we seek to take advantage of the accelerated growth of PC and next-generation platforms."
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