Atari Posts $23.6 Million Dollar Loss

Atari's Fiscal 4th Quarterly and 2008 Year End report has been published. The loss per share for stockholders is ~$1.75/share realizing a $23.6 million dollar red line.

Atari, Inc. Reports Fiscal 2008 Fourth Quarter and Year-End Results

NEW YORK, June 13 /PRNewswire-FirstCall/ -- Atari, Inc. (OTC Pink Sheets: ATAR), an interactive entertainment company, announced today results for its fourth quarter of fiscal 2008 and its March 31, 2008 year-end.

Net revenue for the fourth quarter ended March 31, 2008, was $15.3 million versus $26.9 million in the comparable year-earlier period. Publishing net revenue was $13.5 million, versus $25.8 million in the prior year, while distribution revenue was $1.8 million, versus $1.1 million in the comparable year-earlier period.

Net loss for the fourth quarter ended March 31, 2008 was $3.7 million, or $0.27 loss per share, compared to net loss of $61.7 million, or $4.58 loss per share, in the year-earlier period. Without restructuring charges, the net loss for the fourth quarter ended March 31, 2008 would have been a loss of $1.8 million or $0.13 loss per share.

Net revenue for the year-ended March 31, 2008, was $80.1 million versus $122.3 million in the comparable year-earlier period. Publishing net revenue was $69.8 million, versus $104.7 million in the prior year, while distribution revenue was $10.3 million, versus $17.6 million in the comparable year-earlier period.

Net loss for the year-ended March 31, 2008 was $23.6 million, or $1.75 loss per share, compared to net loss of $69.7 million, or $5.17 loss per share, for fiscal 2007. Without restructuring charges, the net loss for the year-ended March 31, 2008 would have been a loss of $17.1 million or $1.27 loss per share.

Atari, Inc. will not be holding a conference call for the fourth quarter and year ended March 31, 2008. The Company expects to file its Annual Report on Form 10-K for the year-end March 31, 2008 before the June 29, 2008 deadline. Financial statements and accompanying footnotes will be contained in the Annual Report on Form 10-K for the year-end March 31, 2008 and can be obtained on-line at http://www.atari.com once filed.

The new NWN 2 expansion should bring in some much-needed holiday cash and help out the struggling stocks....we hope.

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