James Lee
13:28 (BST)
17/11/2008
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Atari titles boosts Infogrames revenues 44.5%
Infogrames Entertainment has presented its results for first-half of the financial year, as at September 30, showing increased net revenues by 44.5 per cent year-on-year.
Net revenue for the company rose to EUR 131.8 million (USD 166.8 million) from EUR 91.2 million (USD 115 million) for the same period the previous year. The success has been attributed to sales driven by Alone in the Dark, Dragon Ball Z and Backyard Baseball - all titles published by Atari.
The company saw its revenues from the US grow by 145 per cent, climbing to EUR 36.3 million (USD 45.9 million) from EUR 14.8 million (USD 18.7 million) the previous year.
"Strong revenues growth for the first half of the fiscal year 2008/2009 reflect strong sales and solid distribution," said David Gardner, Infogrames CEO.
"This first half of the year also showed improvement of current operating income resulting from improved cost control, the early results of restructuring plan and profitability measures implemented since the beginning of the fiscal year."
"I also would like to point out the turn around in the US with tremendous revenue growth of 145 per cent and reduction of losses," he added.
"Given current economic situation, we think that holiday period will be very competitive, however we reiterate our full year revenues growth guidance at 12 per cent to 18 per cent and return to profitability by the second half of 2009/2010 on a 12-month basis."
"We are very confident that this first half is just the beginning of a new positive trend as we are efficiently rolling out our strategy, by strengthening our distribution revenues with new partnerships and improving our 2009/2010 products line up with new titles such as the recently announced Ghostbusters and The Chronicles of Riddick."
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