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May 15, 1997updated 05 Sep 2016 12:43pm

3DO REPORTS Q4 REVENUES UP 96%

By CBR Staff Writer

3DO Co, the Redwood City, California outfit that recently sold its hardware business to Samsung Electronics Co Ltd to proceed with its plans to concentrate on console games software (CI No 3,150), reported fourth-quarter net income of $14m, or $0.46 per share, on revenue up 96% at $28.8m, compared to net income of $1.2m, or $0.04 per share, a year ago. The fourth quarter revenue increase is primarily due to the recognition of deferred revenue from a license agreement that the company signed with Matsushita Electric Industrial Co Ltd back in December 1995. For the year, net income was $13.3 million, or $0.46 per share, on revenue up 144% at $92.4m, compared to a net loss of $34.7 million in fiscal 1996.

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