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Atari Sees Small Revenue Decline, U.S. Growth

As it shifts more of its business to the U.S., publisher Atari's newest financial results were "stable", the company says, with revenues declining only 1.2 percent year on year in the difficult economy.
Publisher Atari has seen financial troubles over the past few years as it aims for a return to profitability, but the company's newest financial results were "stable," the company says. Atari revealed just a 1.2 percent year over year decline in revenues to €92.5 million ($126.3 million) for the nine months ended December 31 -- and the publisher's operations in the U.S. grew 22 percent. U.S. sales, at €78.7 million ($107.4 million), accounted for 85 percent of Atari's total, thanks to Ghostbusters: The Video Game, The Chronicles of Riddick: Assault on Dark Athena, Backyard Football and Champions Online. The U.S. growth was offset by lower sales and fewer game launches in Europe, however. Atari says European revenues fell 52.5 percent to €13.8 million ($18.8 million). Atari CEO Jeff Lapin, who stepped into the chief exec role at the end of 2009, says that the publisher's prospects are improving. "Nine-month revenues were stable versus last year with a higher share of high margin sales," says Lapin. "Also, with the additional cash raised recently, the Company has now strengthened its equity and is in a position to work on an expanded publishing plan." Lapin also called this month's Star Trek Online launch "promising," making note of its "strong marketing plan" and looking forward to its performance. Alongside the results, Atari also announced that it appointed Phil Veneziano as CFO of the Atari Group. Financial management veteran Veneziano will succeed Fabrice Hamaide, who is leaving the post as Atari's business operations shift to the U.S., where Veneziano will be based.

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