MetaCreations has made a net loss of $4.5 million in the quarter ending March 31, 2000.
The losses, announced in its fourth quarter financial results, compare to a profit of $0.9 in the first quarter of 1999.
Revenues also fell steeply to $137,000, compared with $2.3 million dollars in the first quarter of 1999.
Cash in the pot However, MetaCreations still has $40.5 million in investments, and $41.6 million in equity.
The results were dominated by the company’s divestiture of its graphics-software products in order to focus on its Metastream technology.
Nike and Sony have adopted Metastream 3.0 as their interactive marketing platform. The application provides for fully interactive 3D-models, capable of displaying colours and textures at highly compressed streaming file sizes.
Future prospects Both AOL and Adobe have announced they will incorporate support for the format into future products. Both companies have also made a commitment to invest substantial sums into MetaCreations’ Metastream format.
MetaCreations expects guaranteed-royalty payments of around $11.3 million this year from various third-party firms who purchased titles from MetaCreations.