00:32 (BST), 16/06/2008
Atari, Inc.'s 2008 results
Press Release PROVIDED BY GAMES PRESS
-- Atari, Inc. (OTC Pink Sheets: ATAR), an interactive entertainment company, announced today results for its fourth quarter of fiscal 2008 and its March 31, 2008 year-end.
Net revenue for the fourth quarter ended March 31, 2008, was $15.3 million versus $26.9 million in the comparable year-earlier period. Publishing net revenue was $13.5 million, versus $25.8 million in the prior year, while distribution revenue was $1.8 million, versus $1.1 million in the comparable year-earlier period.
Net loss for the fourth quarter ended March 31, 2008 was $3.7 million, or $0.27 loss per share, compared to net loss of $61.7 million, or $4.58 loss per share, in the year-earlier period. Without restructuring charges, the net loss for the fourth quarter ended March 31, 2008 would have been a loss of $1.8 million or $0.13 loss per share.
Net revenue for the year-ended March 31, 2008, was $80.1 million versus $122.3 million in the comparable year-earlier period. Publishing net revenue was $69.8 million, versus $104.7 million in the prior year, while distribution revenue was $10.3 million, versus $17.6 million in the comparable year-earlier period.
Net loss for the year-ended March 31, 2008 was $23.6 million, or $1.75 loss per share, compared to net loss of $69.7 million, or $5.17 loss per share, for fiscal 2007. Without restructuring charges, the net loss for the year-ended March 31, 2008 would have been a loss of $17.1 million or $1.27 loss per share.
Atari, Inc. will not be holding a conference call for the fourth quarter and year ended March 31, 2008. The Company expects to file its Annual Report on Form 10-K for the year-end March 31, 2008 before the June 29, 2008 deadline. Financial statements and accompanying footnotes will be contained in the Annual Report on Form 10-K for the year-end March 31, 2008 and can be obtained on-line at http://www.atari.com once filed.
About Atari, Inc.
New York-based Atari, Inc. (OTC Pink Sheets: ATAR) publishes and distributes interactive entertainment software in the U.S. The 1,000+ titles that are published and distributed by the Company include hard-core, genre-defining franchises such as Test Drive ® ; and mass-market and children's franchises such as Dragon Ball Z ® . Atari, Inc. is a majority-owned subsidiary of France-based Infogrames Entertainment SA (Euronext - ISIN: FR- 0010478248), an interactive games publisher in Europe. For more information, visit http://www.atari.com.
Safe Harbor Statement
With the exception of the historical information contained in this release, the matters described herein contain certain "forward-looking statements" that are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements in this release are not promises or guarantees and are subject to risks and uncertainties that could cause actual occurrences to differ materially from those anticipated. These statements are based on management's current expectations and assumptions and are naturally subject to uncertainty and changes in circumstances. We caution you not to place undue reliance upon any such forward-looking statements.
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