informa
1 MIN READ
News

Acclaim Posts Loss In Q1

Acclaim announced its results for Q1 2003 today, posting significantly lower revenue than last year which resulted in red ink for the company.
The company's net revenue for the quarter which ended December 1, 2002 was down 22% from the previous year, to $63.1 million. The company attributed the loss to "weak performance of [Acclaim's] titles in the North American retail market". During the quarter the company released Burnout 2: Point of Impact, BMX XXX, Legends of Wrestling 2, Dave Mirra Freestyle BMX 3 and Mary-Kate & Ashley Sweet 16 for various console platforms. In particular, the company had hoped that BMX XXX would be a successful foray into the world of adult-themed videogames, but the game clearly did not live up to the company's expectations. It received limited distribution due to retailer objections over its content, and saw mediocre-to-poor reviews. Besides lower revenue, Acclaim was hit by significantly higher operating expenses. For the quarter, operating expenses reached $42.5 million, up significantly from $31.6 million last year. Going forward, the company said it would attempt to reduce operating expenses "to align them with projected revenues". The bottom line is that Acclaim reported a net loss of $13.9 million (15 cents per share) for the quarter, compared to a $17.4 million profit last year in Q1.

Latest Jobs

Manticore Games

San Mateo, California
8.23.22
Senior Software Engineer - Mobile

Sony PlayStation

San Diego, California
6.23.22
Sr. Online Programmer

The Walt Disney Company

Glendale, California
8.1.22
Associate Marketing Manager - Walt Disney Games

Insomniac Games

Burbank, California
8.26.22
Accessibility Design Researcher
More Jobs   

CONNECT WITH US

Explore the
Subscribe to
Follow us

Game Developer Job Board

Game Developer Newsletter

@gamedevdotcom

Explore the

Game Developer Job Board

Browse open positions across the game industry or recruit new talent for your studio

Browse
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