Atari US outlines steps to address financial position

Atari US - Image 1Game publisher Atari US has revealed yesterday that they’ve experienced a loss of US$ 7.7 million for the second quarter of the fiscal year, adding to their woes from Q1 losses.

Addressing these financial issues, they have taken a number of steps for a long-term strategy (details in the full article) but they aren’t confident that these are sufficient footholds.

ATARI US - Image 1 

Game publisher Atari US has revealed yesterday that they’ve experienced a loss of US$ 7.7 million for the second quarter of the fiscal year, adding to their woes from Q1 losses. Addressing these financial issues, they have taken measures for a long-term strategy.

Although some of the steps taken are drastic, Atari US doesn’t express much confidence, saying: “We cannot guarantee the completion of these actions or that such actions will generate sufficient resources to fully address the uncertainties of our financial position.”

Some of the steps Atari have taken include:

  • Selling Driver franchise and development studio Reflections to Ubisoft
  • Selling The Matrix studio Shiny Entertainment to Foundation 9
  • Deciding to concentrate on publishing and distribution in the US
  • Ended a production agreement with Infogrames
  • Lay-offs and stopping some games in development as further action if necessary

Hopefully this news will not affect the development of Atari’s Alone in the Dark: Near Death Investigation (Xbox 360, PlayStation 3, PC).

Via gamesindustry.biz

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