informa
1 min read
News

3DO Quarterly Sales Fall By Half, Posts Further Losses

3DO reported its results for fiscal Q2, showing that it knows how to cut expenses, but indicating that it can't build sales.
For the quarter, revenues dropped by more than half to $9.9 million, down from $20.2 million last year. Cost cutting helped 3DO trim its quarterly loss, but not quite enough to match the downturn in sales: losses were reduced by 42% to $9.7 million ($0.20 per share) compared to a loss of $16.7 million ($0.45 per share) last year. These results were in line with analyst expectations for the company. "With the upcoming holiday season, we are pleased to have most of the market transition behind us ... We continue to hold the line on operating expenses, have reduced inventory levels and improved accounts receivable collections," Said Trip Hawkins, 3DO's CEO. "We are not borrowing against our credit line and remain debt free. We look forward to returning to profitability in our fourth fiscal quarter." During the quarter, the company released Portal Runner for the PlayStation 2 and Game Boy Color, High Heat Major League Baseball for the Game Boy Advance, and Jumpgate, a massively multiplayer Internet game.

Latest Jobs

Treyarch

Playa Vista, California
6.20.22
Audio Engineer

Digital Extremes

London, Ontario, Canada
6.20.22
Communications Director

High Moon Studios

Carlsbad, California
6.20.22
Senior Producer

Build a Rocket Boy Games

Edinburgh, Scotland
6.20.22
Lead UI Programmer
More Jobs   

CONNECT WITH US

Register for a
Subscribe to
Follow us

Game Developer Account

Game Developer Newsletter

@gamedevdotcom

Register for a

Game Developer Account

Gain full access to resources (events, white paper, webinars, reports, etc)
Single sign-on to all Informa products

Register
Subscribe to

Game Developer Newsletter

Get daily Game Developer top stories every morning straight into your inbox

Subscribe
Follow us

@gamedevdotcom

Follow us @gamedevdotcom to stay up-to-date with the latest news & insider information about events & more