Though first quarter revenues dipped only slightly, to $101.2 million for the first quarter against $104.8 million for the same period last year, Acclaim's earnings took a major hit. The company has reported that it's first quarter earnings slipped to just $0.4 million from a more robust $10.3 million for the first quarter of last year. The company indentified several potentials causes, including slumping N64 sales and the shifting of some product launches to the second quarter. Not least among Acclaim's financial woes is the $6 million spent on extending its hold on the World Wrestling Federation license through November. "We have expanded our release schedule and reduced our dependence on N64," said Acclaim CEO Greg Fischbach, "we have the financial resources, including $78 million in cash on the balance sheet that will allow us to be a leading publisher for each of the next generation consoles."
