Infogrames net revenue up 45%
MCV Staff 17th November 2008	Publishing
Atari's parent company Infrogrames has announced an increase of net revenue of 44.5 per cent for its fiscal first half 2009-2009 ending September 30th.
Despite falling 7.5 per cent, losses still totalled €85.67 million, though they were outweighed by a total net revenue for the period of €131.8 million, which was up from the €91.2 million reported in the same period last year. Gross margin was also up by 76 per cent, reaching €48.7 million.
The firm's US revenues grew by 145 per cent from €14.8 million to €45.9 million, though 72 per cent of its total revenues still came from Europe and Asia.
The firm attributed the improving numbers to strong sales of Alone in the Dark and Dragon Ball Z – in fact, 63 per cent of the firm's takings came from next-gen titles, which was a stark improvement compared to the 21 per cent they accounted for in the same period last year.
Strong revenues growth for the first half of the fiscal year 2008/2009 reflect strong sales and solid distribution," Infogrames CEO David Gardner stated. This first half of the year also showed improvement of current operating income resulting from improved cost control, the early results of restructuring plan and profitability measures implemented since the beginning of the fiscal year.
Given current economic situation, we think that holiday period will be very competitive. However, we reiterate our full year revenues growth guidance at 12 per cent to 18 per cent and return to profitability by the second half of 2009/2010 on a 12-month basis.
We are very confident that this first half is just the beginning of a new positive trend as we are efficiently rolling out our strategy, by strengthening our distribution revenues with new partnerships and improving our 2009/2010 products line up with new titles such as the recently announced Ghostbusters and The Chronicles of Riddick."
Tags atari ben-parfitt financial infogrames losses net profit Results revenue
Previous Epic scoops NCTA award
Next Live & Kicking
UK consumers spent £5.35bn on games in 2019
Atari reveals plans to build eight 'video game-themed' Atari Hotels in the US
Match-3 home decor mobile game Homescapes has generated $1bn in lifetime revenue
65% of North Americans now play mobile games – up 12% in a year
Average number of hours played and revenues also well up