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Atari Misses SEC Filing, Infogrames Shares Drop

Beleaguered U.S. publisher and developer Atari, which is closely tied to French parent firm Infogrames and <a href="http://www.gamasutra.com/php-bin/news_index.php?story=...

Simon Carless, Blogger

February 15, 2006

1 Min Read

Beleaguered U.S. publisher and developer Atari, which is closely tied to French parent firm Infogrames and recently posted poor preliminary results for its quarter ending December 31, 2005, producing only $100.8 million in revenue and posting a net loss of $4.8 million in the busiest months of the year, has now delayed the official SEC filing of its results. A short statement from Atari simply read: "The Company and its independent auditors, Deloitte & Touche LLP have not completed their required review of the interim financial results", and the implication that there may be complex issues requiring a second look have soured analysts further on the firm and its French parent Infogrames. Fideuram Wargny analyst Jean-Michel Salvador commented to Reuters of the announcement: "The delay is not very reassuring and stokes fears there could be more nasty surprises in store. It's adding to fears sparked by news the group was looking for funds." Infogrames shares were off another 7% to 0.81 euros, with this issue adding to previously reported debut problem at the parent company. In addition, there is no further update on recent news that the U.S. company has defaulted on its loans from HSBC Business Credit, which is currently denying Atari further credit. HSBC said that it may advance Atari more capital after reviewing a revised business plan, but the company admits that this may cause future issues with refinancing.

About the Author(s)

Simon Carless


Simon Carless is the founder of the GameDiscoverCo agency and creator of the popular GameDiscoverCo game discoverability newsletter. He consults with a number of PC/console publishers and developers, and was previously most known for his role helping to shape the Independent Games Festival and Game Developers Conference for many years.

He is also an investor and advisor to UK indie game publisher No More Robots (Descenders, Hypnospace Outlaw), a previous publisher and editor-in-chief at both Gamasutra and Game Developer magazine, and sits on the board of the Video Game History Foundation.

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