In a form filed with the American Securities and Exchange Commission, Acclaim indicates that it will be late in filing full results for the quarter due to a change in its fiscal year-end to March 31 from August 31. As such, its results for 2002/03 will only cover seven months rather than the full 12.

During that seven month period, Acclaim expects a net loss of between $60 million and $70 million, compared to profits of $12 million in the same seven months a year previously.

These forecasted losses are attributed to a wide range of factors, including the underperformance of released titles, increased provisions for concessions and returns, higher development costs, and a business restructuring charge. The company also mentions an impaired asset charge related to an office facility in the UK which it is in the process of selling.

Source: Gamesindustry.biz