Atari Losses May Exceed $70 Million After Charges
Atari is delaying the release of its annual financial report because of a potentially hefty goodwill impairment charge [http://www.investopedia.com/articles/analyst/110502.asp] that will be added to the final quarter and full-year results.
Prior to the charge, Atari announced a net loss of over $17 million; the addition could bring the total to over $70 million.
Reported net revenues were also about $100 million lower than last year. Last month, the company announced it was cutting a full one-fifth of its workforce.
Formerly known as Infrogames, Atari is a European game publishing outlet.
Source: Gamespot [http://www.gamespot.com/news/6172547.html?action=convert&om_clk=latestnews&tag=latestnews;title;2].
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Atari is delaying the release of its annual financial report because of a potentially hefty goodwill impairment charge [http://www.investopedia.com/articles/analyst/110502.asp] that will be added to the final quarter and full-year results.
Prior to the charge, Atari announced a net loss of over $17 million; the addition could bring the total to over $70 million.
Reported net revenues were also about $100 million lower than last year. Last month, the company announced it was cutting a full one-fifth of its workforce.
Formerly known as Infrogames, Atari is a European game publishing outlet.
Source: Gamespot [http://www.gamespot.com/news/6172547.html?action=convert&om_clk=latestnews&tag=latestnews;title;2].
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