3DO makes a stellar profit
3DO announced today a return to profit, based especially off the success of their Playstation 2 title High Heat Major League Baseball 2003. The game has tripled its sales from last year to-date and has doubled its market share on the PS2.
"We've right-sized the business and improved our operations," said Trip Hawkins, CEO. "And we have successful games in the channel that have enabled us to be on a consistent reorder basis with our major accounts. As a result we have been able to operate the entire first half of the calendar year without needing new capital infusions, or even the use of a credit line. This Company-wide spending discipline, combined with market growth and the new credit line that we expect to be able to describe in detail shortly, gives us confidence that we will continue to make good financial progress and achieve high growth in revenues and profits next year."
Stay tuned for further coverage of all 3DO titles.
6/26/2002 Matt Stensrud