Looks like <a href="http://www.infogrames.com">Infogrames</a> is following down <a href="http://www.interplay.com">Interplay</a>'s path. The company's stock has been below the required <b>$3/share</b> mark for it's stock category too long, and as such, <a href="http://finance.yahoo.com/q?d=t&s=^IXIC">NASDAQ</a> is not happy with them.
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<blockquote>Infogrames said it received a Nasdaq notice on Oct. 17 indicating its stock had not maintained a minimum per-share bid price of $3 for 30 consecutive trading days.
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The company said it will be able to maintain its listing if its share close at $3 or above for 10 consecutive trading days any time before Jan. 15.
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Infogrames said if it can not maintain its listing on the Nasdaq National Market it would apply for listing on the Nasdaq SmallCap market. It also said its stock could be traded on the over-the-counter bulletin board or similar exchanges.</blockquote>
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Things aren't all bad for the company, though. They also announced today that they had a <a href="http://biz.yahoo.com/prnews/021113/nyw171_1.html">profitable first quarter in 2003</a>. I guess their fiscal quarters are different from most companies, but here's what they said:
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<blockquote>Revenue for the period, including publishing and distribution revenue, climbed 39% to $109.4 million versus $78.5 million in the year-earlier period. Publishing revenue rose 41% to $83.7 million from $59.3 million in the comparable year-earlier quarter on the combined strength of new products released during the period and the continued performance of titles released in the fourth quarter of fiscal 2002. Distribution revenue of $25.7 million represented a 34% increase from distribution revenue of $19.2 million in the first quarter of fiscal 2002. The Company's net profit of $731,000, or $.01 per share, for the 2003 first quarter marked a 32% increase over first quarter 2002 net profit of $552,000, or $.01 per share. EBITDA (earnings before interest, taxes, depreciation and amortization) for the quarter ended September 30, 2003 grew by 24% to $5.6 million, or $.08 per share, versus $4.5 million, or $.06 per share, in the year-earlier period.</blockquote>
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Because of this, <a href="http://finance.yahoo.com/q?d=t&s=IFGM">IFGM</a>, which is their stock symbol, climbed to <b>$2.6/share</b>, up from $2.4/share from yesterday's trading.
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Keep in mind that <A href="http://www.infogrames.com">Infogrames</a> publishes for <a href="http://www.bioware.com">BioWare</a> and owns the license to the D&D franchise.
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The delisting part spotted at <a href="http://rpgdot.com">RPGDot</a>. The rest was spotted at <a href="http://www.yahoo.com">Yahoo!</a>.
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<blockquote>Infogrames said it received a Nasdaq notice on Oct. 17 indicating its stock had not maintained a minimum per-share bid price of $3 for 30 consecutive trading days.
<br>
<br>
The company said it will be able to maintain its listing if its share close at $3 or above for 10 consecutive trading days any time before Jan. 15.
<br>
<br>
Infogrames said if it can not maintain its listing on the Nasdaq National Market it would apply for listing on the Nasdaq SmallCap market. It also said its stock could be traded on the over-the-counter bulletin board or similar exchanges.</blockquote>
<br>
<br>
Things aren't all bad for the company, though. They also announced today that they had a <a href="http://biz.yahoo.com/prnews/021113/nyw171_1.html">profitable first quarter in 2003</a>. I guess their fiscal quarters are different from most companies, but here's what they said:
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<br>
<blockquote>Revenue for the period, including publishing and distribution revenue, climbed 39% to $109.4 million versus $78.5 million in the year-earlier period. Publishing revenue rose 41% to $83.7 million from $59.3 million in the comparable year-earlier quarter on the combined strength of new products released during the period and the continued performance of titles released in the fourth quarter of fiscal 2002. Distribution revenue of $25.7 million represented a 34% increase from distribution revenue of $19.2 million in the first quarter of fiscal 2002. The Company's net profit of $731,000, or $.01 per share, for the 2003 first quarter marked a 32% increase over first quarter 2002 net profit of $552,000, or $.01 per share. EBITDA (earnings before interest, taxes, depreciation and amortization) for the quarter ended September 30, 2003 grew by 24% to $5.6 million, or $.08 per share, versus $4.5 million, or $.06 per share, in the year-earlier period.</blockquote>
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Because of this, <a href="http://finance.yahoo.com/q?d=t&s=IFGM">IFGM</a>, which is their stock symbol, climbed to <b>$2.6/share</b>, up from $2.4/share from yesterday's trading.
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<br>
Keep in mind that <A href="http://www.infogrames.com">Infogrames</a> publishes for <a href="http://www.bioware.com">BioWare</a> and owns the license to the D&D franchise.
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The delisting part spotted at <a href="http://rpgdot.com">RPGDot</a>. The rest was spotted at <a href="http://www.yahoo.com">Yahoo!</a>.
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