Infogrames Reports Massive Loss and Continues Rebranding

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AtariInfogrames reported certain financial results for its fiscal year ended March 31, 2009:
For the year, Infogrames (parent of Atari) reported a net loss of €226.1 million (around $320 million) compared to a net loss of €51.1 million in the previous financial year. That's quite a substantially increased loss, but Infogrames attributes €175.9 million of that loss to transition costs (including substantial goodwill impairments, write-offs and losses from discontinued operations)

The company stated, "Because of a shift of business operations to the US, Phil Harrison will move from the role of President to that of non-executive Director of the Group." Whatever the official statement, the company's results make it seem like the board is displeased with the company's performance under Harrison's guidance. The company plans to continue its reorganization plan with further staff and office reductions.

Also, Infogrames plans to continue its rebranding efforts by changing the name of Infogrames to Atari.

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This page contains a single entry by Editor published on May 29, 2009 9:44 AM.

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