Atari makes money in Q1, world tilts further on axis

David and Phil must be high-fiving each other to death right now. Atari's posted the unthinkable: a profit. In its first quarter, ending June 30, net income was $3.5 million, or $0.26 income per share for the firm.

Net revenue for the period was $40.3 million versus $10.4 million in the comparable year-earlier quarter.

Press release through the link.

NEW YORK, Aug 13, 2008 /PRNewswire-FirstCall via COMTEX News Network/ — Atari, Inc. (OTC Pink Sheets: ATAR), an interactive entertainment company, announced today results for its first quarter of fiscal 2009 and has filed its Quarterly Report on Form 10-Q for the quarter ended June 30, 2008.

Net revenue for the quarter ended June 30, 2008, was $40.3 million versus $10.4 million in the comparable year-earlier period. Publishing net revenue was $36.7 million, versus $9.7 million in the prior year period, while distribution revenue was $3.6 million, versus $0.7 million in the comparable year-earlier period.

Net income for the first quarter ended June 30, 2008 was $3.5 million, or $0.26 income per share, compared to net loss of $11.9 million, or $0.89 loss per share, in the year-earlier period.

Atari will not be holding a conference call for the first quarter ended June 30, 2008. Financial statements and accompanying footnotes are contained in the Quarterly Report on Form 10-Q and can be obtained on-line at http://www.atari.com.

About Atari, Inc.

New York-based Atari, Inc. (OTC Pink Sheets: ATAR) publishes and distributes interactive entertainment software in the U.S. The 1,000+ titles that are published and distributed by the Company include hard-core, genre- defining franchises such as Test Drive(R); and mass-market and children’s franchises such as Dragon Ball Z(R). Atari, Inc. is a majority-owned subsidiary of France-based Infogrames Entertainment SA (Euronext - ISIN: FR- 0010478248), an interactive games publisher in Europe. For more information, visit http://www.atari.com.