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Acclaim Posts Big Increase in Q2 Revenue

Acclaim reported fiscal Q2 earnings today, posting net earnings of $3.8 million (4 cents per share), up from $0.5 million for the same period last year.
Thanks to the strong console game market, revenue for the quarter reached $70.7 million, up from $40.4 million last year. The company released nine SKUs during the quarter, and cited All-Star Baseball 2003, Legends of Wrestling, and Dave Mirra Freestyle BMX as the top three revenue generating franchises for the quarter, in that order. The company boosted its advertising and marketing budget significantly over last year, which in turn raised the company's operating expenses for the quarter by 39%, to $35.0 million. Acclaim executives said the company was on track to hit its previously stated net revenues goals for Q3 and Q4, and raised guidance for fiscal 2002 net revenue to $308.0 million.

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