Today, Atari announced their earnings for the fiscal year ended March 31, 2010. The company posted net revenues of €115.7 million, down from €136.4 million during the same period last year. The company also saw a net loss of €19.4 million, which is still a significant improvement over last year’s staggering €221.9 million loss.
“I am pleased with the improvement in the Company’s results during the second half of the year as compared to the previous semester and last year. Market conditions continue to change rapidly, and we are constantly adapting by continuing to build our on-line focused strategy,” said Atari CEO Jeff Lapin on the results. “Our brands are well suited for extension into the fast growing on-line gaming sector. I am proud of the team we have assembled, and we will continue to focus on achieving profitability.”
Over the year, Atari consolidated and focused on “selling fewer but more profitable games.” Revenue was driven by the company’s retail sales of Star Trek Online, Ghostbusters and Backyard Football 2010, and the ongoing subscription revenue from Star Trek Online and Champions Online. Online subscription revenue alone jumped to €10.8 million, a €9.2 million increase from the same period last year.
Heading into the next fiscal year, Atari hopes to build on their success over the past fiscal year with a number of projected releases. Test Drive Unlimited 2 for Xbox 360/PlayStation3/PC, Backyard Sport: Sandlot Sluggers, and The Witcher 2: Assassins of Kings for PC mark the notable new releases. The company also intends to release a number of classic Atari brands on Xbox Live Arcade, PlayStation Network, digital download, and social gaming websites.
Atari recently welcomed back founder Nolan Bushnell to the company's board and said goodbye to David Gardner and Phil Harrison. Bushnell feels that Atari still has a "really cool worldwide brand," but recent market research would indicate that Atari has a lot of work to do to restore its image.
