- There is increasing concern that the Atari brand is finally on the verge of disappearing, as it concluded a quarter where its losses are bigger than its revenues, which have crashed to just $10.4m.
Three years ago, Atari amassed sales of $343m, which fell to $206m last year and $122m for the year just gone. Its belated quarterly figures to 30 June have now just been filed, at a revenue level closer to a $40m run rate for the coming year, and underinvestment in new games means there is little left of the once great native US gaming operation which is now controlled by French gamer Infogrames.
Last month, new Infogrames CEO Patrick Leleu slashed the board of Atari and dragged in new high powered replacements, which looked like they had the job of finding a buyer for the existing game titles. Over the past two years the company has sold off most of its game development facilities.
As noted, revenue for the quarter was $10.4m, compared to $19.5m last year, which contributed to a net loss of $11.9m, compared to net loss of $7.3m last time.
By filing its Form 10-Q it may avoid being delisted by Nasdaq for non-filing, but as the company begins to run out of money there may be other reasons for Nasdaq to be concerned, which is why the company last month changed its debt position from a...