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ACCLAIM REPORTS RECORD FIRST QUARTER REVENUES; PROFITS INCREASE 500 PERCENT

 ACCLAIM REPORTS RECORD FIRST QUARTER REVENUES;
 PROFITS INCREASE 500 PERCENT
 OYSTER BAY, N.Y., Jan. 8 /PRNewswire/ -- Acclaim Entertainment, Inc. (NASDAQ: AKLM) today reported revenues of $42 million for its first quarter ended Nov. 30, 1991, an increase of 12 percent over the same period last fiscal year. Net income was $2.5 million and earnings per share for the quarter were $0.12, a 500 percent increase.
 "We are pleased with our first quarter earnings, which reflect, in part, the aggressive strategy we adopted this past fiscal year," said Robert Holmes, president of Acclaim. "In addition, we experienced a strong holiday selling season backed by such software titles as The Simpsons and WWF WrestleMania Challenge for the Nintendo Entertainment System and Game Boy, and we expect an equally positive reception for our Super Nintendo WrestleMania title when it hits the market next month"
 Acclaim's first quarter results follow a fiscal year during which the company reduced its inventory from $25 million to $6 million, expanded its operations overseas and began domestic manufacturing. More recently, the company announced it had acquired certain of the assets of Mirrorsoft Ltd., as well as all of the stock of its U.S. subsidiary, Arena Entertainment. Mirrorsoft, formerly part of the Maxwell Entertainment Group owned by the late Robert Maxwell, is a leading developer and publisher of entertainment software in Europe. Its subsidiary, Arena Entertainment, publishes software for personal computers and Sega's 16-bit Genesis system in the U.S.
 Acclaim Entertainment, Inc., with offices in Canada, Germany, Japan and the United Kingdom, is a leading worldwide publisher of interactive entertainment products under the Acclaim, LJN and Flying Edge labels. These include Super Nintendo Entertainment System(R), Nintendo Entertainment System(R), Game Boy(R), Sega Genesis(TM) Sega Game Gear(TM) and personal computer software; wireless remote controllers and hand-held electronic video games.
 ACCLAIM ENTERTAINMENT, INC.
 SUMMARY OF OPERATIONS
 (In thousands except per share data -- Unaudited)
 First quarter ended 11/30/91 FY 1991 FY 1992
 Net revenues $ 37,593 $ 42,033
 Gross profit 16,586 19,889
 Income before taxes 765 4,577
 Net income 319 2,468
 Net income per common share
 and common share equivalent 0.02 0.12
 Weighted average shares outstanding 18,820,000 21,415,000
 -0- 1/8/92
 /CONTACT: Robert Holmes or Anthony Williams of Acclaim Entertainment, 516-922-2400/
 (AKLM) CO: Acclaim Entertainment, Inc. ST: New York IN: ENT SU: ERN


JT-TS -- NY016 -- 7624 01/08/92 09:15 EST
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Publication:PR Newswire
Date:Jan 8, 1992
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