Yeah, they still havent even covered their budget expenses yet. It doesn't help that as a PG-13 film its had to compete with other movies like Karate Kid, Prince of Persia, Jonah Hex, heck even Toy Story and Shrek probably took a bite out of their demographic. I'm sure it will be profitable by the time it hits DVD though.
Personally I know critics have been pretty, er, critical, of it, but I thought it was fun. You have to be willing to accept that it's similar to the show in its campy nature, but some things had to be updated for today's audiences.
Objection, Your Honor. He's reciting the opening to Quantum Leap.