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Acclaim Posts Profitable Q3 Results

Acclaim today reported a profit of $0.2 million on net revenues of $38.6 million for the fiscal third quarter.
It is Acclaim's third straight profitable quarter in fiscal 2001. Total earnings for the first three quarters of fiscal 2001 total $11.6 million, or 20 cents per diluted share. Acclaim credits the third-quarter profit to an extraordinary gain of $7.1 million (12 cents per diluted share) from an early retirement of $13.9 million principal amount of the 10 percent convertible subordinated notes, combined with higher net revenues for the period and substantial reductions in operating costs. Net revenues of $38.6 million for the quarter were up from revenues of $33.8 million for the same period last year.

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