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(PR NEWSWIRE) 3DO Reports First Quarter Financial Results
3DO Reports First Quarter Financial Results

Announces Revenue of $8.9 Million and EPS of $0.04

REDWOOD CITY, Calif., July 31 /PRNewswire-FirstCall/ --
The 3DO Company (Nasdaq: THDO) today reported results for the first fiscal
quarter ended June 30, 2002. Net income for the first quarter was
$4.7 million, or $0.04 per share on a basic basis, compared to a net loss of
$9.5 million or $0.20 per share for the same quarter of the prior year. Net
revenues for the first quarter were $8.9 million compared to $13.3 million
reported in the same quarter last year.
During the first quarter, the company negotiated revisions to office space
and equipment lease commitments that resulted in a $4.7 million reversal of
previous restructuring charges set up for excess office space and equipment.
In addition, the reduced lease obligations resulted in a $1.5 million one-time
benefit in the first quarter. The company also expensed $0.6 million in non-
cash rent expense. As part of one amended agreement, restricted cash will be
used to meet the company`s lease obligations.
Approximately 85% of net revenues for the first quarter were from titles
released during the prior quarter and other backlist titles. First quarter
revenues benefited from products released in prior quarters including High
Heat(TM) Major League Baseball(R) 2003 for the PlayStation(R)2 computer
entertainment system and PC, Army Men(R): RTS for the PlayStation(R)2 and PC,
and Heroes of Might and Magic(R) IV and Might and Magic(R) IX for PC. During
the quarter, the company released Cubix(TM) Robots for Everyone: Clash and
Bash(TM) for the Game Boy Advance(R) handheld game system.
Total product costs including royalties and software development
amortization were 59% of revenues and approximately the same percent as the
prior year. Cost of revenues-product costs were reduced to 34% of revenues,
versus 51% in the same quarter of prior year, reflecting both higher prices
for published products and a higher percentage of licensing revenues.
Operating expenses exclusive of cost of revenues and one-time benefits
declined to $6.0 million compared to $14.2 million in the same quarter last
year and $11.3 million in the fourth quarter of the prior fiscal year,
reductions of 58% and 47%, respectively. The company had no debt during the
quarter and its cash position at June 30, 2002 was $10.5 million of which
$5.9 million was restricted.

Business Outlook
"Our major changes in strategy this year are to cut inefficient spending
and to focus product development on better projects with longer schedules.
This has pushed more products out into calendar 2003, which bodes well for
2003 but has reduced our new offerings for calendar 2002. We recently
completed a round of meetings with many of the major retailers and several
leading game magazines and got universal support for our improved product
plans." said Trip Hawkins, Chairman and Chief Executive Officer. "We are
confident in our multi-platform product development and release plans, which
should allow us to capitalize on expected market growth beginning with the
February 2003 release of High Heat Major League Baseball," continued Mr.
Hawkins. "Our goal from that point forward is to have several SKUs in major
brands releasing every quarter."
For the balance of Fiscal 2003, the company intends to release 15 SKUs
with half of them in the fourth fiscal quarter ending March 2003. Because of
the reduced number of new releases in the second and third fiscal quarters,
the company expects that its revenues for each of the next two fiscal quarters
will achieve approximately the same levels as achieved during the first fiscal
quarter, when there were no major new releases. Accordingly, the company
expects to report net losses in the second and third quarters. As a result of
the first quarter results, the company anticipates that it will achieve a
cumulative breakeven on net income for the first three quarters of Fiscal
2003. The fourth quarter of Fiscal 2003 revenues are expected to be in excess
of $20 million led by new game releases including High Heat Major League
Baseball 2004 and Army Men: Sarge`s War(TM). The company anticipates that its
full year revenues for Fiscal 2003 will be in line with those reported in
Fiscal 2002 and net income is expected to be slightly profitable.
For Fiscal 2004, the company plans to release nearly 30 new SKUs spanning
a focused slate of 9 key product brands, with revenues expected to grow to
more than $100 million with a significant increase in profits. Major product
brands in Fiscal 2004 include High Heat(TM) Major League Baseball(R), Army
Men(R), Heroes of Might and Magic(R), and The Four Horsemen of The Apocalypse.
Hawkins added, "While it will take longer to make new games with our change in
strategy, we believe the games will be of higher quality and because of
technology leverage they will be much more efficient to develop."

The company`s new releases for Fiscal 2003 are:

June 2002 Quarter

Cubix(TM) Robots for Everyone: Clash and Bash(TM) - Nintendo(R) Game Boy
Advance(R)

September 2002 Quarter

Cubix(TM) Robots for Everyone: Showdown(TM) -- Nintendo(R) GameCube(TM)
Cubix(TM) Robots for Everyone: Showdown(TM) -- Nintendo(R) Game Boy
Advance(R)
Army Men: Turf Wars -- Nintendo(R) Game Boy Advance(R)
Army Men: -- PlayStation(R)2 computer entertainment system
Army Men: War Chest -- PC
Heroes of Might and Magic IV: The Gathering Storm(TM) -- PC
Heroes of Might and Magic: Platinum Edition -- PC
Might and Magic: Platinum Edition -- PC


December 2002 Quarter

Army Men: Air Combat: The Elite Missions -- Nintendo(R) GameCube(TM)
High Heat Major League Baseball 2003 -- PlayStation(R) computer
entertainment system
Cubix(TM) Robots for Everyone: Showdown(TM) -- PlayStation(R)2 computer
entertainment system

March 2003 Quarter

Army Men: Sarge`s War -- Nintendo(R) GameCube(TM)
High Heat Major League Baseball 2004 -- Nintendo(R) GameCube(TM)
High Heat Major League Baseball 2004 -- PlayStation(R)2 computer
entertainment system
High Heat Major League Baseball 2004 -- PC
High Heat Major League Baseball 2004 -- Xbox(R)
High Heat Major League Baseball 2004 -- Nintendo(R) Game Boy Advance(R)
Heroes of Might and Magic IV: Expansion 2 -- PC

The company has scheduled a teleconference with the financial community
and shareholders for Wednesday, July 31, 2002 at 5:00 (EDT), to discuss fiscal
year results and the outlook for next fiscal year. To listen, the domestic
dial-in telephone number is 877-282-2315 or 703-871-3016. The teleconference
will also be carried live via the Internet at www.3do.com.

About 3DO Company
The 3DO Company headquartered in Redwood City, CA, develops, publishes and
distributes interactive entertainment software for advanced entertainment
systems including the PlayStation(R)2 computer entertainment system, and the
Nintendo(R) GameCube(TM) and Game Boy Advance(R) systems, as well as for the
PC, Macintosh, and the Internet. 3DO has also been licensed to develop and
publish products for the Xbox(TM) video game system from Microsoft
Corporation. More information about 3DO and its products can be found at the
company`s web site located at www.3do.com.
The statements contained in this release that are not historical facts are
"forward-looking statements" that are subject to risks and uncertainties.
Factors, which could cause the company`s results to differ materially,
include, without limitation, the timely development and release of the
company`s products, the popularity of the Company`s brands, unanticipated
expenses, and the consequences of competitive factors in the marketplace.
Further information on potential factors which could affect such forward-
looking statements and the Company`s financial results are described in the
Company`s filings with the Securities and Exchange Commission, including the
Company`s Annual Report on Form 10-K for the fiscal year ended March 31, 2002.
The company disclaims any obligation to update any forward-looking statement
to reflect events or circumstances occurring after the date hereof.
3DO, Army Men, High Heat, Heroes of Might and Magic, Might and Magic, and
their respective logos, are trademarks or registered trademarks of The 3DO
Company in the U.S. and other countries. "PlayStation" and the "PS" Family
logo are registered trademarks of Sony Computer Entertainment Inc.(TM), (R),
Game Boy Advance and the Nintendo GameCube logo are trademarks of Nintendo.
Xbox is the registered trademark of Microsoft Corp., Cubix(TM) is a registered
trademark of CINEPIX, Daiwon and 4Kids Entertainment.

NOTE: All other trademarks and trade names belong to their respective
owners.

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SOURCE The 3DO Company
-0- 07/31/2002
/CONTACT: Christina Hees of 3DO Company, [phone], or
[e-mail]/
/FIRST ADD -- MORE 3DO COMPANY EARNINGS INFORMATION -- TO FOLLOW/
/Web site: http://www.3do.com/
(THDO)

CO: 3DO Company
ST: California
IN: CPR CSE ENT STW
SU: ERN CCA


*** end of story ***

[alex1975]

hast du die 810 in ffm gekauft?

ich lege vielleicht gleich auch mal los, hört sich irgendwie nicht schlecht an die story...!

gruß, alex