Wednesday, May 26, 2010

Atari full year financial results: Losses reduced thanks to Star Trek Online, Champions Online

Atari recently announced its financial results for the fiscal year ending March 31st, posting a reduced full-year loss of $23.8 million (19.4 million euros) compared to the previous fiscal year (loss of $272.4 million, or 221.9 million euros), with considerable drops in revenue, falling 15.2 percent year-over-year.

Revenues for the second half of the year fell even more sharply, down 42.4 percent, although this period also saw Atari return a profit to the tune of $4.7 million (3.8 million euros) – a vast improvement over the same period during the last fiscal year when the company recorded a loss of $210.3 million (171.3 million euro).

This performance in the second half of the fiscal year is a positive turning point for Atari, which will look to capitalise on the growth afforded to it by the profitable market performance of its latest range of titles, including Star Trek Online, Champions Online, Ghostbusters: The Video Game and Backyard Football 2010.

The success of Star Trek Online and Champions Online in particular meant that revenue generated by online games accounted for 23 percent of the Atari’s total during the second half of the fiscal year, compared to 2 percent during the same period in the previous fiscal year, with online subscription and digital distribution revenue rising to $13.3 million (10.8 million euros) during this period.

Atari CEO Jeff Lapin commented on the company’s results:

“Market conditions continue to change rapidly, and we are constantly adapting by continuing to build our online focused strategy. Our brands are well suited for extension into the fast growing online gaming sector. I am proud of the team we have assembled, and we will continue to focus on achieving profitability.”


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