7th Level Announces US$7 Million Loss, Refocuses

7th Level, Inc. today announced a net US$7.1 million loss for the second quarter ending June 30, 1997, compared to a $6.6 net loss for the same quarter last year. Net revenues were $1.0 million compared to $5.0 million in the comparable quarter last year.

7th Level will pursue a new strategy, focusing on expanding its solutions and technology business and capitalizing on its educational and entertainment assets, making it less vulnerable to the volatile games market. The company said in a statement issued today that it intends to pursue its new strategy in collaboration with a variety of potential ventures and marketing partners, and confirms that it is in discussion with several companies. 7th Level will continue to create games in collaboration with other producers and publishers.

The company's most anticipated upcoming release is Return to Krondor, an RPG based on Raymond Feist's popular Riftwar novels and the sequel to 1993's Betrayal at Krondor. The game is scheduled for completion early next year, and according to a company spokesperson, 7th Level still plans on releasing the game titles in development.