Paul Loughrey
10:29 (BST)
30/06/2006
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Atari audit reveals further losses
Publisher's future remains in serious doubt
Troubled software publisher Atari has filed its annual SEC report, final audit adjustments revealing an additional loss of almost US$ 2 million and casting further doubt on the company's future.
According to a company statement, the adjusted earnings are related to "the amortization of a certain license," although specific details have not been revealed.
The publisher recently posted its unaudited Q4 and full fiscal year results, showing a fourth quarter loss of US$ 4.3 million and an annual loss of US$ 67.1 million.
As a result of the final audit adjustments, the company has posted fourth quarter and fiscal year losses of US$ 6.2 million and US$ 69 million respectively.
As the publisher continues its strategic restructuring initiatives, including the sale of non essential assets, licenses and IP, Atari has reiterated its intention to address the situation by diversifying its product portfolio.
"Atari's strategy will focus on expanding the marketplace in which it competes through the exploitation of established franchises; the creation and aggregation of a new online gaming movement focused on community building; and unique new titles for portable devices," the company stated.
"Atari will continue to develop and publish games for traditional gaming consoles but will look to differentiate its titles by capitalizing on the connectivity and power of next-generation consoles. The Company anticipates its deliberate and decisive actions will capture new audiences and build upon its iconic brand reputation."
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