Acclaim Losses Narrow

Officials from Acclaim have revealed the company’s fiscal second quarter results for the period ended September 28. The company reported a net loss for the quarter of $4 million, or $0.04 per share, compared to a loss of $28.2 million, or £0.31 per share, at the same time last year. Although these results show a positive trend the company’s revenues still fell during the period to $41.3 million from $54.1 million. The company has also restated its warning that if it cannot renegotiate an existing domestic credit agreement with GMAC Commercial Finance it may not have sufficient cash flow. The company is also in trouble with Nasdaq, which has threatened to delist it after a recent private offering of notes was deemed not to be in compliance with its rules.