Officials from Interplay have announced the company’s operating results for the fourth quarter and year end of 2003. For the fourth quarter ended December 31, the company reported a net income of $3.3 million, or $.04 per basic and diluted common share, compared to a net loss of $5.4 million, or $.06 per basic and diluted common share, in the same period last year. Net revenues were $11.5 million versus $7.1 million in the same period a year ago, an increase of 62%.
The company’s full year results saw a net income of $1.3 million, or $.01 per basic and diluted common share, compared to a net income of $15.1 million, or $.18 per basic common share and $.16 per diluted common share, in the same period last year. Net revenues were $36.3 million versus $44.0 million in the same period a year ago, a decrease of 18%. Operating income increased 111% from the prior year to $1.4 million.
The discrepancy in net income for the full year, compared to 2002, is due to the sale in the previous year of Shiny Entertainment for $28.8m. The company has been selling many of assets in an attempt to return to profitability, with the Hunter: The Reckoning license being sold this year for $15 million.
CEO Herve Caen has commented that as a company, “We continue to operate under cash constraints.” Adding that, “Specifically, Interplay is three months in arrears on its corporate lease obligation, may have short-term payroll difficulties and has outstanding payroll tax obligations."
In a conference call yesterday the company announced plans to develop sequels to a number of its older franchises, including Kingpin
, Earthworm Jim
. Some of these franchises may be subsequently sold off; although Caen has stated that the company’s objective is to "solidify its position as a leading RPG publisher."
Source: PR Newswire