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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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To: mishedlo who wrote (53291)	2/9/2006 6:16:27 PM
From: shades	Read Replies (1) of 110194

DJ Atari Swings To 3Q Loss;Co As Going Concern In Doubt>ATAR My how the mighty have fallen - Pitfall 2 was great! images.google.com NEW YORK (Dow Jones)--Atari Inc. (ATAR) swung to a third-quarter loss due to weak holiday sales and delayed product launches. Meanwhile, Atari's chief financial officer resigned while HSBC has declined to extend the company further credit, raising "substantial doubt" about Atari's ability to continue as a going concern. In a press release Thursday, the video-game developer reported a net loss of $4.8 million, or 4 cents a share, compared with a net income of $19.6 million, or 16 cents a share in the year-ago period. Excluding restructuring charges and losses from discontinued operations, the loss for the third quarter was $3.4 million, or 2 cents a share. Three analysts polled by Thomson First Call estimated, on average, third-quarter earnings of 17 cents a share. Revenue for the period ended Dec. 31 fell to $100.8 million from $156.4 million a year ago. Wall Street expected sales of $146.8 million. Atari said holiday demand for current generation titles were "depressed," while publishers now need to strategically balance titles across multiple consoles, as well as portable devices. Atari was off 33% in after hour trading, changing hands at 59 cents a share. (MORE TO FOLLOW) Dow Jones Newswires February 09, 2006 17:44 ET (22:44 GMT)

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