Interplay Website Imminent
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BEVERLY HILLS, Calif., April 8, 2008 /PRNewswire-FirstCall/ -- Interplay Entertainment Corp. (OTC Bulletin Board: IPLY - News) recently announced its earnings for the fiscal year ended December 31, 2007, and its plan for the company going forward.
Net revenues for the year ended December 31, 2007 were $6,001,000, an increase of 520 percent compared to the same period in 2006.
The Company reported net income of $5.86 million, or $.059 per basic share and $.057 per diluted share, compared to net income of $3.08 million, or $.032 per basic and diluted share, in the same period last year. The net income reported in the twelve-month period of this year was primarily the result of the recording of $5,750,000 in income from recognition of the sale of the "Fallout" intellectual property.
In addition to reporting the annual results, the company also pointed to its two-pronged growth strategy. First, management is working to secure funding for the development of a Massively Multiplayer Online Game (MMOG) based on the popular "Fallout" franchise. Interplay sold "Fallout" in 2007 while obtaining a license back, under certain conditions, to create and develop a "Fallout" MMOG.
At the same time, the company will leverage its portfolio of gaming properties by creating sequels to some of its most successful games, including Earthworm Jim, Dark Alliance, Descent, and MDK.
The company has recently reinitiated its in-house game development studio, and is hiring game developers.
Interplay Chairman and Chief Executive Officer Herve Caen said, "2007 set the foundation for our growth strategy. Going forward, we have the vision, unique intellectual property, and low debt and operational costs to help us pursue financing for our various projects. Our new Website will streamline our ability to communicate development progress with the public, share brand information with the fans and support our customers."
