CNET también está disponible en español.

Ir a español

Don't show this again

Tech Industry

3DO soars on 4Q results

    3DO (Nasdaq: THDO) surged 16 percent Wednesday after it exceeded lowered expectations for the fourth quarter.

    Shares were up 15/16 to 6 5/8, still well below their 52-week high of 17 1/8.

    The maker of game software reported fiscal fourth quarter earnings of $11.5 million, or 26 cents per share, 2 cents above First Call consensus and a penny above the top end of the range predicted by 3DO in its earnings warning last month.

    Fourth quarter revenue, reported after Tuesday's closing bell, was $47.3 million, more than double from the year-ago period. Revenue was also up 104 percent compared to $23.2 million in the prior year's fiscal fourth quarter.

    For fiscal 2000, 3DO was profitable; the company earned $200,000, or a penny per share, on revenue of $122.2 million. Revenue was $122.2 million, an increase of 154 percent compared to $48.0 million in fiscal 1999.

    The company said its new game roll-out schedule remains aggressive, with 50 new games planned across at least six platforms.

    3DO intends to roll out games for Playstation 2 and the Internet during fiscal 2001, Hawkins said. The company also wants to expand outside the United States.

    The company's competitors include Activision (Nasdaq: ATVI), Eidos (Nasdaq: EIDSY) and Electronic Arts (Nasdaq: ERTS) according to Hoover's Online.

    Activision also reported a fourth-quarter loss Tuesday, and said it expected another loss in the first quarter due to the industry's transition to new video game console hardware.

    Activision shares were down 1 9/32 to 6 Wednesday.
    • Playstation wait holds down game stocks
    • 3DO to miss 4Q estimates
    • THDO chart
    • THDO estimates>