Phil Elliott
13:26 (BST)
30/11/2007
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Infogrames reduces net loss by 34%
First half revenue down 13% as company restructures board and publishing activities
Infogrames Entertainment, the French publisher and parent company of Atari, has announced its latest set of financial figures, detailing a decline in revenues but a reduction in the company's net loss.
That loss stood at EUR 29.3 million, down from last year's deficit of EUR 36.9 million, thanks partly to the sale of the Hasbro licenses for EUR 4 million and a slight decrease in US losses.
Revenue was down 13 per cent overall to EUR 91.2 million, although this was mostly due to a 62 per cent drop in the US territory - sales in Europe and Asia rose by 15 per cent and 12 per cent respectively.
Research and development costs totalled EUR 19.2 million, down EUR 4 million from the first half of 2006, while marketing costs stood at EUR 22.3 million - nearly 22 per cent less than the previous year.
In a statement the company also said that it had restructured the board of directors, adding four new members, with the aim of returning the company to profitability.
The company outlined some of the steps it would be taking to achieve that, including the relaunch of some classis Atari franchises and the continuation of development on the Alone in the Dark and Test Drive Unlimited titles.
Additionally it also intends to expand its line-up for the Wii and DS, look for more opportunities to work with external studios, and take advantage of the blossoming online scene.
The company's share price remained static at EUR 0.13 following the announcement.
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