Atari predicts improved profits for current fiscal year
Atari recently reported that they have lowered their predicted sales for Q2 of the current fiscal year. However, the company is quick to state that they fully expect sales for the fiscal year 2003, which ends on March 31st, 2004, to be a dramatic increase over profits from 2002. Atari's reasoning behind this was made clear when they pointed out that their releases are concentrated largely in the third and fourth quarters.
Atari predicts that total revenue for the current fiscal year will reach somewhere between 560 and 590 million dollars, an increase of almost 10 percent, with total net income reaching upwards of 45 million, an increase of up to 160 percent over last year.
9/5/2003 Ryan Hartmann