Atari Reports Larger Losses

Atari Inc. yesterday said it was rereporting its fourth quarter and full-year earnings and had filed adjusted documents with the SEC.

Atari had previously announced unaudited financial results for the fourth quarter and full year that ended March 31, 2006, and reported a net loss of $4.3 million for the quarter. Yesterday, the red ink took on a deeper shade.

"As a result of final audit adjustments related to the amortization of a certain license, the audited financial statements contained in the Form 10-K filed today, June 29, 2006, reflect a net loss for the fiscal 2006 fourth quarter of $6.2 million, or $0.05 per share, and a net loss for the fiscal 2006 year end of $69.0 million, or $0.54 per share."

Previously, the company had reported a quarterly loss of $4.3 million, and a full-year loss of $67.1 million.

News source: GameSpot

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