Bam Entertainment has today reported results for its fiscal third quarter ended March 31, 2004. The company's net revenues of $599,000 for the quarter are down 79 percent from $2.9 million for the same period 12 months earlier. Bam's operating loss for the quarter was $4.1 million, contributing to a net loss of $4.4 million--which actually compares favorably to the same period last year when Bam posted both an operating loss and a net loss of $5.1million.

　　During the quarter ended March 31, 2004, Bam released four products in Europe but no new titles in North America. In the same quarter of the previous fiscal year it released three new products in both Europe and North America.

　　Bam also announced that its offer to acquire VIS Entertainment and its agreement to acquire State of Emergency Development Corporation, a company set up to fund the development of State of Emergency 2, have been accepted. Bam has acquired a controlling interest in both companies.

　　"The single most significant accomplishment we have achieved in the year is the acquisition of VIS. This combination significantly enhances our competitive position within the industry, through well-established internal development resources--specifically talent, technology, and, most importantly, intellectual property, as well as key management, personnel, and relationships," said Raymond Musci, CEO of Bam. "We believe the combination will position the company with a much firmer footing, to compete not only on the current generation of hardware, but also future platforms as they are announced and released. We will also actively continue to explore and seek out other combinations and acquisitions as the business begins to mature and consolidate."

　　Bam's release schedule for the remainder of its current fiscal year includes a number of games for North America, including Carmen Sandiego: The Secret of the Stolen Drums, Bujingai: The Forsaken City, and a Starsky & Hutch title.