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Bleak Fiscal Results Reported By Interplay

Interplay reported Q4 and full-year results for 2001, posting sharp drops in revenue and income for both periods due to the small number of new games it released - just 3 for the quarter, 10 all year.
For Q4, which ended December 31, the company reported net revenues of $21.5 million, a 30 percent decrease from the prior year. Interplay reported a net loss for the fourth quarter of $4.9 million (11 cents per share) compared to a net loss of $4.8 million (18 cents per share) a year earlier. For the year, the company's revenues fell a whopping 45 percent, to $57.8 million. The net loss for 2001 came to $46.3 million ($1.22 per share), compared to a net loss of $12.1 million (45 cents per share) last year. Gross profit margins fell from 48% to 21% over the year, which Interplay attributed to its platform mix, which contained a proportionately high number of low-margin PC games, as well as higher product returns and price concessions related to the company's transition to Vivendi for its North American distribution. Interplay shares closed the day at 18 cents, hovering around its 52-week low.

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