Atari: Losses could be $70 million

Infogrames subsidiary Atari has delayed releasing its annual financial report today, as the company makes "a final determination regarding the amount of goodwill impairment charge," which will be added to both the fourth-quarter and full-year financial results.

Before the goodwill impairment charge, the company reported that it made a net loss of $17.2 million ($1.28 a share) for the financial year ended March 31, 2007. With the new figures added to the balance, the loss could grow to an extra $54.1 million ($4.02 a share), bringing the total loss to $71.3 million.

Atari also reported that net revenues for the year ended March 31, 2007 were approximately $121.6 million, and that it was expecting to release its annual report later this month. In the previous year's annual report, the company reported total revenues were $218.7 million.

Back in November, the company announced a slim quarterly profit for the first time in years; however, in the next quarter (October through December), the company was back in the red. In May, Atari announced that it would be laying off 20 percent of its workforce, mainly in admin roles.