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Broderbund Expects Loss; Shares Plunge

June 16, 1998|Bloomberg News

Shares of Broderbund Software Inc. fell as much as 18% after the entertainment software maker said it will report a loss for the fiscal third quarter and has hired investment banking firm Donaldson, Lufkin & Jenrette to explore its strategic alternatives. Broderbund shares fell $3 to close at $17.19 on Nasdaq. Its stock has dropped 21% in the last year as the maker of the best-selling "Myst" and "Where in the World is Carmen Sandiego?" games struggled to duplicate past success. In the last two weeks, speculation that it was courting buyers had lifted its share price. The company said it expects to report a loss of $2.5 million to $3.3 million, 12 to 15 cents a share, for the quarter ended May 31.

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