3DO Third Quarter

Revenues for the third quarter reached record highs for the 3DO Company. Led by the release of ten new titles and the continue strength of series like Army Men and Might and Magic, third quarter revenues totaled $42.1 million. The results mark a 300 percent increase form 3DO's $10.3 million in revenue for the third quarter last year. The company reported a net income of $1.4 million in the third quarter, an improvement on 3DO $5.7 million in losses in the same period a year ago. "As we experienced in fiscal 1999 when 3DO outpaced industry growth by 15 times, in fiscal 2000, we expect to continue to significantly exceed industry growth by approximately 12 times," gloated Trip Hawkins, 3DO chairman and CEO.