Acclaim Posts Profitable Q3 Results

It is Acclaim's third straight profitable quarter in fiscal 2001. Total earnings for the first three quarters of fiscal 2001 total $11.6 million, or 20 cents per diluted share. Acclaim credits the third-quarter profit to an extraordinary gain of $7.1 million (12 cents per diluted share) from an early retirement of $13.9 million principal amount of the 10 percent convertible subordinated notes, combined with higher net revenues for the period and substantial reductions in operating costs. Net revenues of $38.6 million for the quarter were up from revenues of $33.8 million for the same period last year.