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Atari Gets Delisting Warning from Nasdaq

Discussion in 'News & Articles' started by RaptoR, Mar 10, 2006.

  1. RaptoR

    RaptoR been here far too long

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    Former Unreal publisher Atari (Infogrames) has received an ultimatum from major stock exchange Nasdaq, warning that it will be delisted if its share price does not stay above $1 for ten consecutive days by April 30.

    Last month, Atari posted disappointing sales numbers for the first quarter fiscal year 2006 (the period ending December 31, 2005), earning only $100.8 million, a 36% decrease on its Q3 2005 revenue of $156.4, in an aggravated version of the continuing overall market weakness. Due to the lower income, Atari posted a net loss of $4.8 million, compared to its profit of $19.6 million in Q3 2005.

    Shortly afterwards, Atari delayed its official SEC filing, causing shares to plummet for parent company Infogrames. Additionally, Atari announced a twenty percent staff reduction, and CEO Bruce Bonnell commented to British trade paper MCV that the company planned to sell off its internal game studios.

    The news is the latest in a string of developments which paints a picture of a publisher very much up the creek and lacking a paddle. The company itself is reported to be close to bankruptcy, with losses of almost $63,000,000 in nine months. Atari has also lost the support of major developers such as Epic Games, which has since moved over to Midway for future Unreal titles.

    More here from Gamasutra.
     
  2. Sir_Brizz

    Sir_Brizz Administrator Staff Member

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    Third time's not a charm for the Atari brand :-/
     
  3. K.N.I.F.E

    K.N.I.F.E Dressed in Pink

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    Ha, they deserve it, they were the ones who suggested the 2004 and 2003 names

    BYOTCH!
     
  4. W0RF

    W0RF BuF Greeter, News Bagger

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    That's what they get for closing Legend and killing the MoO series.
     
  5. Fuzzle

    Fuzzle spam noob

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    Dangit dont you hate it when that happens. I only earned 80 million this one year and I could barely afford my electric bills.
     
  6. borsdy

    borsdy New Member

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  7. Zenny

    Zenny I'm gonna steal your girlfriend.

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    Your completely forgetting that that isn't profit, it's total earnings. When you overestimate your earnings by that much you're probably going to lose money when it's all said and done.
     
  8. Phopojijo

    Phopojijo A Loose Screw

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    Yea, and share price is valued at price per share vs number of shares issued. They only way they can really raise their share price that much is literally if the CEO gives up (not sells, but literally tears up/burns) his stocks.

    Lord knows no other invester will say "Well, I paid X-hundreds of thousands of dollars for these stocks... lets burn 'em to save the company!"
     
    Last edited: Mar 10, 2006
  9. shoptroll

    shoptroll Active Member

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    Take Two could be soon following in their footsteps as well
     
  10. Manticore

    Manticore Official BUF Birthday Spammer

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    How the mighty have fallen......... again.
     
  11. JaFO

    JaFO bugs are features too ...

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    What 'mighty' ?
    Atari had nothing to do with the 'original' Atari of old.
    It was just new packaging for an already failing company ...
    An expensive coat of paint for a load of male bovine excrement.
     
  12. Manticore

    Manticore Official BUF Birthday Spammer

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    Um, I was being facetious, irreverent, sarcastic.... etc, etc.




    O.k.?
     
  13. Mr. UglyPants

    Mr. UglyPants 2007 never existed, it was all a dream.

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    a well it was bound to happen, good bye Atari, we (maybe not all) will miss you!
     
  14. R.Flagg

    R.Flagg New Member

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    My feedback is that this isn't really news, and the continued posts on the topic have started to look more like..., well, Schadenfreude.
     
  15. Bang_Doll

    Bang_Doll Freebasing Anime Chicks Since '96

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    Damn straight.
     
  16. DeathBooger

    DeathBooger Malcolm's Sugar Daddy

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    OH NOes, no more Dragon Ball Z games. :(
     
  17. Dark Pulse

    Dark Pulse Dolla, Dolla. Holla, Holla.

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    No, there'll be Dragon Ball Z games, just under a different Publisher.

    Read this in USA Today while I was sitting down for a rare lunch... They've got a lot of time to do it, but 10 consecutive days = 2 full weeks in reality (No Sat/Sun, remember?) so they've got some work ahead of em.
     
  18. MrMaddog

    MrMaddog Flak Monkey

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    Once again, history washes, rinses & repeats itself...

    Less than $1 pre share? Wow...even Atari Corp. under the Tramiels wasn't this bad! And that's when they had a game system that wasn't even advertised! :eek:

    The Fuji Curse consumes yet another company...

    (Seriously I wish Bushnell does well enough with uWink to buy what's left of Atari when all's said and done. That was the only time when it was good.)
     
  19. Kyllian

    Kyllian if (Driver == Bot.Pawn); bGTFO=True;

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    Hmm...
     
  20. livingtarget

    livingtarget BulletCatcher

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    I wonder what would happen to the current UT atari forums if they do go bust.
     

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