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Atari revenues fall 15%

UPDATE: Shares jump 15% on the news that losses were down by 91% year-on-year

Atari has announced its full year financial results for the 12 months to the end of March 2010, noting that revenues were down by 15 per cent year-on-year to €115.7 million ($142.2 million) - but that it had cut its losses over the previous year by 91 per cent to stand at €19.7 million ($24.2 million), down from €221.9 million ($272.8 million).

The results were driven by the release of Star Trek Online, with subscription revenue from that and Champions Online combining to mean that online revenues were 11 per cent of the total income - compared to just 2 per cent the previous year - at €12.5 million ($15.4 million).

The cut in losses was also down to the company having sold off its distribution business and followed the restructure of the publishing segment the previous year, while those games that were released saw higher margins.

"I am pleased with the improvement in the company's results during the second half of the year as compared to the previous semester and last year," said CEO Jeff Lapin. "Market conditions continue to change rapidly, and we are constantly adapting by continuing to build our on-line focused strategy.

"Our brands are well suited for extension into the fast growing on-line gaming sector. I am proud of the team we have assembled, and we will continue to focus on achieving profitability."

UPDATE: Shares in Atari have jumped by over 15 per cent on the release of the financial results today, with investors obviously happy with the extent of the turnaround. They were up at the time of publishing by 52 cents to €3.94.

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Phil Elliott

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