Atari Drops Financial Guidance

Representatives from Atari have warned that the company’s third quarter results will not reach expectations and have downgraded predicted full year results. The move comes largely at the announced delay of DRIV3R (Driver 3) – ostensibly to ensure the PlayStation 2 and Xbox versions are released simultaneously. Net revenues for the quarter ended December 31 are now expected to be around $190 million, down from around $215 to $235 million. Expected profits have also been reduced from $28 to $36 million, to $20.5 to $22.5 million. For the full financial year, ended March 31, revenues are now expected to be between $460 to $470 million, down from November predictions of $560 to $570 million. Profits are expected to be zero, down from $35 to $45 in profit. Source: Atari