BAM! Losses Lessen; Acquires VIS Entertainment

Officials from BAM! Entertainment have reported the company’s results for its fiscal second quarter, ended December 31. During this period net revenues fell 73% to $5.9 million, with an operating loss of $4.9 million and a net loss of $5.1 million – equivalent to 31 cents per share. This compares favourably to an operating loss of $13.3 million and a net loss of $13.4 million, equivalent to 92 cents per share, at the same time last year. At the same time the company also announced that it had agreed terms to acquire Scottish developer VIS Entertainment, together with SOE Development – the company it had set up to fund development of State of Emergency 2. The newly combined company will be led by executives from both BAM! and VIS. Source: BAM! Entertainment