After one quarter of profit following seven quarters in the red, Acclaim Entertainment Inc headed back into loss last quarter, reporting a net loss of $1.2m down from $16.8m last time on revenue up 33% at $69.3m compared with $52.3m. First Call’s average of analysts’ estimates forecast the company would report a loss of $0.06, in fact it came in four cents better than that at $0.02. At the half way mark earnings were $6.8m compared with a net loss of $35.8m last time on revenue up 53% at $161.6m compared with $105.6m last time. Acclaim says it’s on course to meet is financial expectations, having reduced expenses by $6m in the quarter.
