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Broderbund boosted by Riven

Broderbund sees first-quarter revenues and profits bolstered by the release of Riven, the sequel to Myst.

Broderbund Software (BROD) saw a jump in first-quarter revenues and profits today, bolstered by the release of Riven, the sequel to Myst.

The developer, which earlier had layoffs and posted widening losses as it underwent a product transition during its last fiscal year, is banking on the success of its latest title. Broderbund had been hurt as revenues from its longtime blockbuster Myst have waned.

The company reported net profits of $10.6 million, or 49 cents a share, compared with profits of $8.9 million, or 42 cents a share a year earlier.

Revenues, meanwhile, rose to $99.2 million for the quarter ending November 30, up from $61.5 million a year ago.

Riven, the largest product release for Broderbund, was released October 31. During the first month of sales, Broderbund shipped more than 1 million units to retailers, distributors, and consumers.

"We are delighted with the initial success that Riven has achieved. We believe our strategy to support Riven throughout its life cycle is on track, and we are beginning to see results with our productivity and educational products from the aggressive development schedule and new marketing efforts that we have been investing in over the past year," said Joe Durrett, chief executive officer, in a statement.

He noted, however, that the consumer software industry continues to undergo consolidation and face pricing pressures. In the key parts of the company's business, pricing pressure has been great, Durrett added.