October 10, 1997 in Nation/World

Broderbund Loss Exceeds Expectations

Compiled From Wire Services

Broderbund Software Inc. said it had a wider-than-expected loss before charges in its fiscal fourth quarter as the software company spent heavily to market its new video game Riven, the sequel to Myst.

The company said it had a loss of $2.2 million, or 11 cents a share, before the charges, compared with a profit before a charge in the year-ago quarter of $4.2 million, or 20 cents. Broderbund was expected to report a loss in the quarter ended Aug. 31 of 2 cents a share, the average estimate of 14 analysts surveyed by IBES International Inc.

The company said it spent heavily during the quarter for marketing the sequel to Myst, the best-selling video software game ever. Myst and Riven were developed by Spokane-based Cyan Inc.

In Broderbund’s latest quarter, pretax charges for acquisitions, restructuring and write-offs totaled $27.2 million, or 80 cents a share after tax.

Revenue rose 42 percent to $45.7 million from $32.2 million in the year-ago quarter, a larger increase than some analysts were expecting.

Get stories like this in a free daily email

Please keep it civil. Don't post comments that are obscene, defamatory, threatening, off-topic, an infringement of copyright or an invasion of privacy. Read our forum standards and community guidelines.

You must be logged in to post comments. Please log in here or click the comment box below for options.

comments powered by Disqus