Printer Friendly

SIERRA ON-LINE ANNOUNCES KING'S QUEST VI DELAYED UNTIL THIRD QUARTER, PROFIT SHORTFALL LIKELY

 SIERRA ON-LINE ANNOUNCES KING'S QUEST VI DELAYED
 UNTIL THIRD QUARTER, PROFIT SHORTFALL LIKELY
 COARSEGOLD, Calif., Sept. 8 /PRNewswire/ -- Sierra On-Line Inc. (NASDAQ: SIER) announced today that because of minor delays in product development, the initial shipment of King's Quest VI will take place in mid-October rather than late in the quarter ending Sept. 30.
 King's Quest VI, the eagerly anticipated new chapter in Sierra's flagship product line, is expected to be an industry best seller throughout the 1992 Christmas selling season and beyond. Because of the postponement of revenue anticipated on this product and the impact that its delay will have on the manufacturing and launch of other Sierra products, the company will not meet profit goals for its second fiscal quarter. However, the company does not expect these delays to significantly affect Sierra's overall annual performance.
 "It's one of those unfortunate cases where a delay of a few weeks in a product development schedule will have significant impact on our second quarter financial results," said Ken Williams, Sierra president and chief executive officer. "We have a large backorder on King's Quest VI, and we anticipated booking this revenue in the quarter. Moving this product launch into the third quarter will hurt our quarterly financial results, but we don't anticipate that we will hurt demand for the game. King's Quest VI will ship in October in plenty of time to satisfy Christmas demand."
 Sierra is confident that a number of other Christmas releases will ship as planned in September, including Quest for Glory III, Red Baron Mission Builder, a new version of Police Quest 1 and Take-A- Break! Crosswords. These products will provide some revenue but cannot offset the loss of King's Quest VI.
 Sierra On-Line, along with its wholly owned subsidiaries Dynamix Inc. and Bright Star Technology Inc., publishes entertainment and education software for IBM PCs and PC compatibles and Apple Macintosh computers.
 -0- 9/8/92
 /CONTACT: Bruce E. Grant, VP-finance of Sierra On-Line, 209-683-4468/
 (SIER) CO: Sierra On-Line Inc. ST: California IN: CPR SU: PDT ERP


KJ-LS -- LA041 -- 7281 09/08/92 21:20 EDT
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Sep 8, 1992
Words:348
Previous Article:MOTORISTS ADVISED TO UTILIZE TURNPIKE TRAVEL FOR FLORIDA KEYS; KEYS ELECTRICAL POWER RETURNS TO NORMAL LEVELS
Next Article:BUICK TO FOCUS MOTORSPORTS EFFORTS ON INDY LIGHTS SERIES
Topics:


Related Articles
SIERRA ANNOUNCES CARTRIDGE REPRESENTATION AGREEMENT
SIERRA, VIRGIN RESOLVE TRADEMARK DISAGREEMENT
KING'S QUEST VI SHIPS GOLD; HOTTEST TITLE FOR CHRISTMAS '92 TOPS SALES OF ANY PREVIOUS SIERRA ADVENTURE
SIERRA ON-LINE REPORTS SECOND QUARTER AND SIX-MONTH RESULTS
SIERRA ON-LINE REPORTS ANTICIPATED THIRD QUARTER RESULTS
SIERRA ON-LINE REPORTS THIRD QUARTER AND NINE-MONTH RESULTS
SIERRA ON-LINE INC. ANNOUNCES STAFF REDUCTION
SIERRA ON-LINE REPORTS FOURTH QUARTER AND FISCAL YEAR-END RESULTS
SIERRA ON-LINE INC. APPOINTS JAMES W. THOMAS PRESIDENT OF SIERRA PUBLISHING
SIERRA ON-LINE REVENUES UP

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters