NEW YORK, Sept. 18 /PRNewswire-FirstCall/ -- Atari, Inc. , an interactive entertainment company, announced today that it has filed its delayed Annual Report on Form 10-K for the fiscal year-end March 31, 2007.
Net revenue for the year ended March 31, 2007, was $122.3 million versus $206.8 million in the comparable year-earlier period. Publishing net revenue was $104.7 million, versus $153.6 million in the prior year, while distribution revenue was $17.6 million, versus $53.2 million in the comparable year-earlier period.
Net loss for the year was $69.7 million, or $5.17 per share, compared to net loss of $69.0 million, or $5.36 per share, in the year-earlier period. Loss from continuing operations for the twelve-month period of fiscal 2007 was $66.6 million, or $4.94 per share, compared to a loss of $63.4 million, or $4.93 per share, in fiscal 2006. The 2007 results include a non-cash goodwill impairment charge of $54.1 million.
Because of the delay in filing its fiscal 2007 Form 10-K, Atari has not been able to file its Report on Form 10-Q for the quarter ended June 30, 2007. Atari expects to file the Form 10-Q in early October 2007. That filing along with today's filing of its Form 10-K will bring Atari current in its periodic reporting obligations and will restore Atari's compliance with Nasdaq's listing requirements. The Staff of Nasdaq had notified Atari that its stock was subject to delisting because of its failure to comply with those requirements. Atari's stock continues to trade on the Nasdaq under symbol ATAR.
Atari will not be holding a conference call for the fiscal year ended March 31, 2007. Financial statements and accompanying footnotes are contained in the Annual Report on Form 10-K and can be obtained on-line at http://www.atari.com/ .
About Atari, Inc.
New York-based Atari, Inc. develops interactive games for all platforms and is a third-party publisher of interactive entertainment software in the U.S. The Company's 1,000+ titles include hard-core, genre- defining franchises such as Test Drive(R); and mass-market and children's franchises such Dragon Ball Z(R). Atari, Inc. is a majority-owned subsidiary of France-based Infogrames Entertainment SA (Euronext - ISIN: FR-0000052573), an interactive games publisher in Europe. For more information, visit http://www.atari.com/.
Safe Harbor Statement
With the exception of the historical information contained in this release, the matters described herein contain certain "forward-looking statements" that are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements in this release are not promises or guarantees and are subject to risks and uncertainties that could cause actual occurrences to differ materially from those anticipated. These statements are based on management's current expectations and assumptions and are naturally subject to uncertainty and changes in circumstances. We caution you not to place undue reliance upon any such forward-looking statements.
The Company undertakes no duty to update any forward-looking statements to conform the statement to actual results or changes in the Company's expectations.
