Atari’s “Goodwill” Hunting Complete – Reported Losses Exceed $70 Million
by Chad Lakkis on July 3, 2007 at 12:47 pm
Even Namco’s Pac-Man would have a hard time swallowing these numbers.
After initially delaying a formal announcement in June while the company calculated their “goodwill impairment charge” Atari of America, headquartered in New York, has released a financial statement today reporting a net loss of (cover your ears Pac-Man) $71.3 million. An impairment charge is the new term for writing off worthless goodwill, in case you were wondering.
New York-based Atari has released a statement regarding its annual financial figures today, after delaying the announcement in June as it calculated a “final determination regarding a goodwill impairment charge.”
The Infogrames subsidiary also confirmed that their goodwill impairment charge would be $54.1 million and that their net revenues would be $121.6 million give or take a power pellet or two.
Source: CFO.com
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1 Comment » |
on July 3, 2007 1:57 pm
Atari will bounce back from this, they have been around forever and they are a part of our country’s culture.