Acclaim Holds Steady On FY2003 Results, Raises Guidance For 2004

For current fiscal year (2003), the company maintained its previously stated annual net revenue and earnings guidance of $379.0 and $66.0 million, respectively. Acclaim raised guidance for fiscal 2004, projecting net revenue for that year of $502 million, a 32% increase over 2003 net revenue guidance. The company predicted that net earnings will grow to $85 million (87 cents per share), a 29% increase over fiscal 2003 guidance. Greg Fischbach, CEO, said that he expects the September 1 launch of Turok: Evolution across all platforms to be a major revenue driver for the company. The company intends to release 56 SKUs in fiscal 2003, and 62-70 SKUs in fiscal 2004.