Interplay Entertainment's fourth quarter results show an increase in revenue and a decrease in losses, but the numbers remain solidly in the red. The company reports net revenues of $27.3 million for the fourth quarter, an improvement from $20.6 million in the same period last year. Net losses for the quarter tallied $7.8 million, less than half of the total of $16.6 million in the net losses the company reported for last years fourth. For the year as a whole, revenues were down and losses up. For the twelve months ended December 31, Interplay saw revenues shrink to $101.9 million from last year's total of $126.9 million. Net Losses of $40 million for 1999 topped the 1998 mark of $28.8 million. Interplay blames the poor showing on bad debt, product returns, a restructuring program, as well as the company's inability to ship
Messiah and
Giants in 1999. "We came up short of our goal of returning to profitability within the year, but succeeded in completing key strategic transactions with Virgin Interactive Entertainment Limited and Titus," said Interplay CEO Brian Fargo, "Our principal operating goals for 2000 are to leverage our strengths as new platforms are introduced, and to increase our console focus to be more balanced as a publisher and developer."
