Atari Reports Strong First Quarter Fiscal 2004.Entertainment Editors/Business Editors NEW YORK--(BUSINESS WIRE)--July 30, 2003 Atari, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : ATAR),a global publisher of interactive entertainment software, today announced results for the 2004 first quarter, ended June 30, 2003. Revenue for the period, including publishing and distribution revenue, grew 17% to $151.4 million from $129.6 million in the comparable year-earlier period. Publishing revenue of $135.6 million represented a 25% increase over publishing revenue of $108.3 million in the prior June quarter, while distribution revenue declined 26% to $15.8 million from $21.3 million in the comparable year-earlier quarter. Net income climbed to $23.8 million, or $0.34 per share, during the quarter, a dramatic improvement over a net loss of $0.7 million, or $0.01 loss per share, in the year-earlier period. EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) A metric used to show a company's profitability, but not its cash flow. EBITDA became popular in the 1980s to show the potential profitability of leveraged buyouts, but has become (earnings before interest, taxes, depreciation and amortization Earnings before interest, taxes, depreciation and amortization (EBITDA) is a non-GAAP metric that can be used to evaluate a company's profitability.
The Company's results during the quarter were largely driven by the widely anticipated release of Enter The Matrix(TM), which has sold-through at retail more than 3 million units worldwide, since its launch on May 15th. The hugely popular Dragon Ball Z “DBZ” redirects here. For the meteorological term, see dBZ (meteorology). Dragon Ball Z (ドラゴンボールZ (R) franchise, which has surpassed 3 million units sold on a worldwide basis, continued to excel for the Company throughout the quarter, fueled by Dragon Ball Z(R): Legacy of Goku II(TM), which was released for the GameBoy Advance in June 2003, as well as the ongoing strength on Dragon Ball Z(R): Ultimate Battle 22(TM) (PSX PSX Sony Playstation PSX Playstation X (name of the CD add-on unit for the pre-production NES) PSX Professional Services Expo PSX Play Station ; released in March 2003) and Dragon Ball Z(R): Budokai(TM) (PS2; released in December 2002). Other impressive performers during the period included expansion packs for RollerCoaster Tycoon(R) II and Neverwinter Nights This article is about the 2002 computer role-playing game. For the AOL MMORPG, see Neverwinter Nights (AOL game). Neverwinter Nights (NWN), produced by BioWare and published by Infogrames (now Atari), is a third-person perspective computer role-playing (TM). "We are quite pleased with our performance during the first quarter, as it was drawn on the strength of an entirely new franchise combined with the enduring appeal of more established franchises," said Bruno Bonnell Bruno Bonnell is one of the founders of Infogrames Entertainment SA. A qualified chemical engineer, Bonnell received a degree in economics at the Université Paris IX. He began his long career on the Thomson TO7, one of the earliest French-produced home computers, before founding , Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Atari, Inc. "This kind of balance in our portfolio is vital to our continued success and growth, and is evident in our line up over the next several months, including the all-important holiday season." Mr. Bonnell continued, "Our upcoming release slate is scheduled to include more titles from franchises such as Dragon Ball Z, Backyard Sports, Dora the Explorer Dora the Explorer is an animated television series that is carried on the Nickelodeon cable television network. A pilot episode for the series aired in 1999, and Dora the Explorer became a regular series in 2000. , Civilization and Unreal, as well as new key products including Kya, Mission Impossible: Operation Surma, Terminator 3: Rise of the Machines, Yu Yu Hakusho: Spirit Detective, and the first titles from our Dungeons Dungeons may refer to:
About Atari New York-based Atari, Inc. (Nasdaq: ATAR) develops interactive games for all platforms and is one of the largest third-party publishers of interactive entertainment software in the U.S. The Company's 1,000+ titles include hard-core, genre-defining games such as Driver(TM), Enter the Matrix(TM), Neverwinter Nights(TM), Stuntman stunt·man n. A man who substitutes for a performer in scenes requiring physical daring or involving physical risk. stuntman n → especialista m stuntman (TM), Test Drive(R), Unreal(R) Tournament 2003, and Unreal(R) Championship; and mass-market and children's games such as Backyard Sports(TM), Nickelodeon's Blue's Clues Blue's Clues is a children's show about a dog named Blue. It features live action one on one on paper-cutout animation. The series follows a dog named Blue through her everyday life, providing small children with fun and education. The show airs on both Nick Jr. and Noggin. (TM) and Dora the Explorer(TM), Civilization(R), Dragon Ball Z(R) and RollerCoaster Tycoon(R). Atari, Inc. is a majority-owned subsidiary majority-owned subsidiary A firm in which more than 50% of outstanding voting stock is owned by the parent company. of France-based Infogrames Entertainment SA (Euronext 5257), the largest interactive games publisher in Europe. For more information, visit www.atari.com. (Table to Follow)
ATARI, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except per share data)
For the Three Months
Ended June 30,
-------------------------
2002 2003
------------ ------------
(unaudited) (unaudited)
Net revenues $129,603 $151,357
Cost of goods sold 60,025 70,846
------------ ------------
Gross profit 69,578 80,511
Selling and distribution expenses 21,766 20,127
General and administrative expenses 8,497 8,548
In-process research and development 7,400 -
Research and development 21,400 22,229
Depreciation and amortization 1,918 1,950
------------ ------------
Operating income 8,597 27,657
Interest expense, net 4,069 3,046
Other (expense) income (3,559) 118
------------ ------------
Income before provision for income taxes 969 24,729
Provision for income taxes 1,678 937
------------ ------------
Net (loss) income $ (709) $ 23,792
============ ============
Basic and diluted net (loss) income per
share $ (0.01) $ 0.34
============ ============
Basic weighted average shares outstanding 69,825 69,974
============ ============
Diluted weighted average shares outstanding 69,825 70,169
============ ============
EBITDA * $ 10,515 $ 29,607
============ ============
EBITDA * per share $ 0.15 $ 0.42
============ ============
* EBITDA is defined as operating earnings before interest, taxes,
depreciation and amortization
SAFE HARBOR Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. STATEMENT Certain statements contained in this release are forward-looking statements (rather than historical facts) that are subject to risks and uncertainties that could cause actual results to differ materially from those described. With respect to such forward-looking statements, the company seeks the protection afforded by the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995 and other enabling legislation Noun 1. enabling legislation - legislation that gives appropriate officials the authority to implement or enforce the law legislation, statute law - law enacted by a legislative body . Statements contained herein with regard to the company's business outlook and prospective operating and financial results are based upon management's expectations regarding various factors, which may be beyond the company's control. This statement is not intended to identify each and every risk and uncertainty inherent in the company's business, and should be read in conjunction with the company's cautionary statements contained in its most recent filings with U.S. and foreign regulatory authorities. |
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