Atari reduces losses in fiscal year, increases online revenue

Atari has posted its financial results for its fiscal year 2009 (ending March 31), and, while the company still reported a loss, it's a definite improvement over last year. The company managed an operating loss of €22 million ($26.84 million) for the fiscal year, a substantial improvement over the previous year's operating loss of €68.9 million ($84.05 million). Overall, net losses for last fiscal year totaled just €19.4 million ($23.66 million), a huge improvement over the previous year's net loss of €221.9 million ($270.68 million). (It should be noted, however, that the sale of Atari's European distribution business to Namco Bandai was responsible for €90.8 million ($110.76 million) of the previous year's loss.)

For fiscal 2009, Atari posted overall revenues of €115.7 million ($141.13 million), down from €136.4 million ($166.38 million) the previous year. Revenue was fueled by growth in digital distribution sales and online game subscriptions, totaling €12.5 million ($15.28 million); a jump of some €9.9 million ($12.08 million) over last year. Star Trek Online and Champions Online were specifically name-dropped as driving forces in this area. Meanwhile, Atari's new focus on fewer, more profitable titles caused retail revenues to fall to €103.2 million ($125.88 million), a decline of €30.6 million ($37.33 million) over the previous year.

Atari hopes to show "considerable improvement" in operating income in fiscal 2010 (Apirl 2010 – March 2011), which will be led by new installments of Backyard Sports (one out this week and one this holiday), Test Drive Unlimited 2 (in September) and The Witcher 2 (next spring). Additionally, the company plans to release "a series of retail, XBLA, PSN and PC download releases based upon Atari's classic video game brands in the second half of the year." Atari will also release "numerous casual and social online game releases" based on its well-known brands.

[Via Big Download]

Source - Atari Second Half and Full Year 2009/2010 consolidated results (PDF)