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Acclaim Warning

Acclaim Entertainment is warning that revenues and earnings for the second quarter ending February 29 will fall below analysts' expectations. Acclaim blames the results o...
Acclaim Entertainment is warning that revenues and earnings for the second quarter ending February 29 will fall below analysts' expectations. Acclaim blames the results on a industry wide slowdown in the rate of sales growth of the main consoles, notably a slowdown in sales of the Nintendo software that Acclaim has focused on in the past. Combining that sales slump with a 35 percent increase in next-generation research and development spending, Acclaim projects a loss for the quarter of nearly $20 million. For the year, the company projects a net revenues to be 30 percent below last years result with a net loss of approximately $50 million. Acclaim will report its full results during the second week of April.

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