informa
2 min read
article

Atari Misses SEC Filing, Infogrames Shares Drop

Beleaguered U.S. publisher and developer Atari, which is closely tied to French parent firm Infogrames and
February 15, 2006
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.

Latest Jobs

Studio Pixanoh LLC

Los Angeles, California
05.20.22
Combat Designer

Treyarch

Playa Vista, California or Vancouver, BC
05.20.22
AI Engineer

Question

Remote
05.20.22
Lead Level Designer (South Park)

Remedy Entertainment

Helsinki Metropolitan Area, Finland
05.23.22
Rigging Artist
More Jobs   

CONNECT WITH US

Register for a
Subscribe to
Follow us

Game Developer Account

Game Developer Newsletter

@gamedevdotcom

Register for a

Game Developer Account

Gain full access to resources (events, white paper, webinars, reports, etc)
Single sign-on to all Informa products

Register
Subscribe to

Game Developer Newsletter

Get daily Game Developer top stories every morning straight into your inbox

Subscribe
Follow us

@gamedevdotcom

Follow us @gamedevdotcom to stay up-to-date with the latest news & insider information about events & more