Atari Financial Results for Fiscal 2003
Posted Wednesday, July 16, 2003 - 20:18 CET by Veldrin

Atari, formerly known as Infogrames, has issued a press release about their financial results from the fiscal period 2003. Here's a clip:

July 15, 2003

New York, New York, July 15, 2003 – Atari, Inc. (Nasdaq: ATAR), one of the world’s largest publishers of interactive entertainment software, today announced operating results for its fiscal year and quarter ended March 31, 2003. As the result of a change in its fiscal year end, announced on March 28, 2003, results herein reflect the nine-month period (fiscal year 2003), as well as the quarter ended March 31, 2003. All results reference the comparable year-earlier periods.

For the nine-months ended March 31, 2003, net revenue, including publishing and distribution revenue, climbed 40% to $404.6 million as compared with net revenue of $289.4 million in the comparable 2002 period. Publishing revenue of $329.8 million marked a 56% increase over publishing revenue of $211.9 million in the year-earlier period, while distribution revenue declined modestly to $74.8 million from $77.5 million in the comparable 2002 period. The Company reported net income for the fiscal year of $18.1 million, a significant improvement over a net loss of $10.2 million reported in the comparable year-earlier period. EBITDA (earnings before interest, taxes, depreciation and amortization) rose to $33.3 million, or $0.48 per share, from a loss of $4.1 million, or a loss of $0.06 per share, in the comparable 2002 period.

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