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Titus Earnings Reduced by Interplay Investment

August 23, 2001|Bloomberg News

The big investment that a French video game maker made in money-losing Interplay Entertainment Corp. in Irvine is hurting its earnings.

Titus Interactive said a first-half loss at Interplay will significantly affect earnings for its fiscal year, which ended June 30, and that the company probably won't post a profit until the end of the its fiscal year next June.

Shares of Titus, which owns 51.5% of Interplay, have lost 58% of their value this year in the Paris stock market. Interplay said this week that its quarterly loss widened to $20.8 million, from $7.4 million a year earlier. It has lost money in 10 of the last 11 quarters.

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