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Infogrames US becomes profitable; saves losses

The French publishing giant finally sees some payback for its forays into the overseas market

French publishing behemoth Infogrames has issued a statement today claiming that its losses are down for the last six months ending December 31st because the US side of its operation has moved into profitability. The company's acquisitions in the US have included Hasbro Inc.'s interactive games unit for $100 million in January this year, and GT Interactive (which it folded into its own Infogrames Inc. business) in December of 1999 for $135 million. Infogrames Inc. reported a profit of $16.5 million in the last quarter, compared with Infogrames Entertainment's losses of 22.2 million euros. In a prepared statement, the company said that "These good results are due to the successful integration of GTIS within Infogrames and, more specifically, to a renewed US management team, the restructuring of operations and the implementation of a focused strategy in the US,"

Source - Bloomberg