Infogrames Realizes GT Interactive Profit

Infogrames Inc. scored its first, albeit modest, profit since the company acquired financially troubled GT Interactive in November 1999. Infogrames posted net income of $552,000 on revenue of $81.7 million its first fiscal quarter, ended Sept. 30, contrasted with a net loss of $32.7 million on $39.6 million in sales the same period last year.

Since acquiring GT, Infogrames closed offices, reduced payroll by nearly 45% and focused on games that appealed to a large audience. It also bought Hasbro Interactive, which gave the company access to games based on Monopoly, Tonka Toys and Scrabble.

The figures, reported after the close of the financial markets, do not include European revenue and profit for Infogrames Inc.’s parent company, Infogrames Entertainment in France. The New York company’s stock rose 1 cent to $6.52 on Nasdaq.