Even after the cuts and release restructuring, the former publishing giant is still in the red.
Like the majority of game publishers, Acclaim's fiscal year ends in March. The company recently released its fiscal year 2004 third quarter sales, which includes the important Christmas season, and the outlook is not good.
In the three months leading up to the holiday, Acclaim reported a net loss of $9 million, which brings their three-quarters year loss total up to $31 million. While these losses are not as severe as they were at the same point in time last year, Acclaim's decision to thin out their game lineup and be more cautious in releasing titles brought in far less revenue than in years previous.
Acclaim hopes that this will be the last year in which their losses will be as severe as they currently are. The company expects to become profitable again in their 2005 fiscal year, and to get their floundering stock price above the $1.00 per share minimum that Nasdaq requires.