Atari posts losses, continued streamlining planned

Atari has reported a net loss of $9.1 million for its fiscal fourth quarter. The loss, widely predicted by analysts, compares with a fall of $17.3 million for the same period last year.

Net revenue also fell to $62.7 million from $64.8 in the previous year, short of its own lowered forecast of between $70m and $80m.

Additionally, the company announced a continuation of its streamlining strategy, stating that it planned to dispose of ‘non-core assets’ – which includes the divesting of developer Humongous during fiscal 2006.

“We have accomplished many of our goals as we have completed the relocation of our publishing operations, transformed our senior management team and secured a new credit facility,” commented acting CEO Bruno Bonnell (pictured), who stepped up following the shock resignation last week of former CEO James Caparro.

Shares in Atari Inc. fell by three per cent following the announcement.

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