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Atari Reports Larger Losses Amid Long-Term Concerns

Atari Reports Larger Losses Amid Long-Term Concerns

November 3, 2005 | By Simon Carless

November 3, 2005 | By Simon Carless
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More: Console/PC

Infogrames subsidiary and New York-headquartered game publisher and developer Atari has announced disappointing financial results for the fiscal 2006 second quarter ended September 30, 2005. Net revenue was $38.4 million, versus $68.0 million in the prior year's comparable quarter, reflecting fewer titles released, and loss for the quarter was a significant $25.2 million, compared to a loss of $16.9 million in the year earlier period.

Such revenues as there were for Atari were driven by the release of Indigo Prophecy (PS2, Xbox and PC), Dragon Ball GT: Transformation (GBA) and Atari Flashback 2 (Plug-and-Play), but the company's selling of Humongous to parent Atari earlier this year, apparently for a cash boost, hint at continuing issues that have also recently included the resignation of Atari CEO Jim Caparro. The loss of the Microprose-originated Civilization franchise (sold to Take-Two in mid-2004) also divested the company of one of its major original IPs, and Atari is now looking to major Christmas title The Matrix: Path Of Neo to help boost revenues. The success of forthcoming titles Timeshift and Driver 4: Parallel Lines, both due early next year, are thought to be vital to Atari's continuing survival.

Current Atari CEO Bruno Bonnell commented of the results, preferring to look forward: "As evidenced by our product line-up, Atari is poised for a stronger second half of fiscal 2006 with titles from critically acclaimed franchises such as The Matrix, Dragon Ball Z, Dungeons & Dragons, Totally Spies and Driver." He continued: "Interactive entertainment continues to be one of the fastest growing segments in the entertainment industry. The next generation of consoles from Sony, Microsoft and Nintendo are just the beginning of things to come, and we intend to deliver top-tier titles from franchises such as Alone In The Dark, Test Drive and others. Atari's strategy remains unchanged - we are committed to providing compelling entertainment to mass audiences whenever, however and wherever they want it."

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