Acclaim Entertainment Predicts Wider Losses
May 12, 2011
GLEN COVE, N.Y. -- Acclaim Entertainment Inc. said Friday it expects to post wider losses and lower revenues for its fiscal fourth quarter ending May 13, 2011 a result of delays in delivering several new games. The software maker will also post a wider than expected loss for the entire fiscal year, but didn't provide any specific projections. Acclaim had previously expected its fourth-quarter loss to be similar to its third quarter results, when it lost $4 million, or $1.20 a share. The company earned $6.1 million, or 11 cents a share, on revenues of $151.5 million in the year-ago fourth quarter. The company said the new products will begin helping results in the fiscal 2012 first quarter ending August 12, 2011 also said the new-product delays will not adversely affect the Christmas selling period. The company's stock ended the day unchanged at $8.125 on the Nasdaq Stock Market.
