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ATARI CORPORATION ANNOUNCES RESULTS FOR THE FOURTH QUARTER AND YEAR 1992

 SUNNYVALE, Calif., April 16 /PRNewswire/ -- Atari Corporation (AMEX: ATC) announces results of operations for the fourth quarter and year ended Dec. 31, 1992.
 Net sales for the fourth quarter of 1992 were $25.5 million as compared to $96.1 million for 1991. As part of the company's restructuring program, the company recorded $7.4 million in restructuring charges and $14.1 million in inventory write-downs. These charges were partially offset by a reversal of $9.0 million of previously estimated loss for discontinued operations. In addition, the company incurred a loss on exchange of $5.3 million as compared to a $4.1 million gain in 1991. Due to these factors, the company incurred a net loss in the fourth quarter in 1992 of $21.9 million as compared to a $4.4 million net loss in 1991.
 For the year 1992, net sales were $127.3 million as compared to $258.0 million in 1991. During 1992, the company incurred a net loss of $73.6 million as compared to net income of $25.6 million for 1991. In the year 1992, the company took inventory write-downs of $37.6 million, and as part of its restructuring program, made provisions totalling $17.1 million.
 Atari Corporation manufactures and markets video games and personal computers for the home, office and educational marketplaces throughout the world. Atari headquarters are located at 1196 Borregas Avenue, Sunnyvale, California 94089.
 ATARI CORPORATION
 Condensed Consolidated Statements of Operations
 (In Thousands, Except Per Share)
 Period Ended Quarter Year
 December 31, 1992 1991 1992 1991
 Net sales $25,647 $96,098 $127,340 $257,992
 Operating income (loss) (26,332) (9,371) (79,008) (18,683)
 Exchange gain (loss) (5,322) 4,113 (5,589) 1,375
 Other income (expense)
 net 1,011 (250) 927 280
 Interest (expense) net
 of interest income (576) 568 517 (287)
 Gain from sale of Taiwan
 Manufacturing Facility -- -- -- 40,920
 Income (loss) from before
 income taxes (31,219) (4,940) (83,153) 23,605
 Income taxes (recovery) (214) (517) (434) (54)
 Income (loss) from
 continuing operations
 before extraordinary
 credit (31,005) (4,423) (73,719) 23,659
 Income (loss) from
 discontinued
 operations 9,000 -- 9,000 --
 Income (loss) before
 extraordinary credit (22,005) (4,423) (73,719) 23,659
 Extraordinary credit
 from repurchase of
 subordinated debentures 104 -- 104 1,960
 Net income (loss) (21,901) (4,423) (73,615) 25,614
 Earnings per common and
 equivalent share:
 Income (loss) before
 extraordinary credit $ (0.38) $ (0.08) $ (1.29) $ 0.41
 Net income (loss) $ (0.38) $ (0.08) $ (1.28) $ 0.44
 Weighted average
 number of shares
 used in computation 57,286 57,621 57,365 57,691
 -0- 4/16/93
 /CONTACT: August J. Liguori of Atari Corporation, 408-745-2069/
 (ATC)


CO: Atari Corporation ST: California IN: CPR SU: ERN

LD -- SJ006 -- 7041 04/16/93 22:36 EDT
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Publication:PR Newswire
Date:Apr 16, 1993
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