Interplay Posts Lower Than Expected Losses

Interplay representatives have released details of the company’s second quarter 2003 earnings. For the second quarter ended June 30 2003, the company reported a net loss of $5.4 million, or 6 cents per share. This compares unfavorably to a net income of $20.9 million, (22 cents per share) in the same period last year. The majority of the net income last year came from the sale of Shiny Entertainment. Net revenues were also down from last year to this though, with $1.3 million versus $11.8 in the same period. The fact that the company has not released a new title this quarter is the obvious reason for the 89% drop. It wasn’t all bad news for the company, though. It's operating loss decreased 24% from the previous year, to $5.4 million. More importantly, Interplay had estimated a $9 million loss, with the final result improving on this by 40%.