Infogrames Financial Picture Improves, But Still Posts Loss

Thanks to better sales and cost-cutting measures adopted by the company, quarterly losses were reduced to $23 million (33 cents per share) on revenues of $72.7 million, compared to a loss of $55.4 million ($2.68 per share) on revenues of $48.5 million last year. Revenues for the fiscal year were $310.5 million, compared with $313.2 million in fiscal 2000. Infogrames recorded a loss for the fiscal year of $60.7 million ($1.07 per share). That's not stellar, but significantly better than last year's loss of $397.6 million ($22.13 per share). Last year's whopping loss was due to a number one-time events in fiscal 2000, including the assimilation of Hasbro Interactive. CEO Bruno Bonnel said that the company expects to perform well through the holidays, but warned that the recent terrorist attack could affect company sales: "While we have no way of determining the effect that recent world events will have on our particular industry in the coming months, we remain confident in our current and upcoming products and believe we have the line-up to command a significant portion of holiday sales," Bonnell said.