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ACCLAIM REPORTS DISASTROUS Q3

Troubled computer games company Acclaim Entertainment Inc, which came close to bankruptcy last year after posting losses of $221m, has reported a massive $69.7m loss for its third quarter against a loss of $4m a year ago. Contributing to the debacle were charges of $43.5m stemming from the 1994 acquisition of Acclaim Comics, litigation and the downsizing announced in May (CI No 3,153). Revenue for the quarter slid 34% to $41.6m. Sales of Turok: Dinosaur Hunter, the game that was supposed to revive the company’s fortunes (CI No 3,125) generated 57% of the company’s gross revenue for the quarter. Net loss for the nine months was $105.5m on revenue off 32% at $147.3m, up from a loss of$59.1m a year ago.

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CBR Staff Writer

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