Atari Full Year Losses Narrow

Officials from Infogrames, whose games are now sold exclusively under the Atari brand, have announced the company’s full year results, in which losses have narrowed after the company reduced debt and terminated a number of less profitable distribution contracts. The company’s net loss for the fiscal year ended March 31 was €31.5 million ($38.2m), compared to a loss of €110 million ($134.8m) the year before. Sales dropped 22% to €701 million ($859.1m). However, the company’s net debt was cut by a third to €313 million ($383.6m). Shares in the company had previously slumped by 44% because of the delay of Driv3r, which is now scheduled for a June release. Source: Bloomberg.com