Article View: comp.sys.atari.st
Article #37070Atari's fourth quarter
From: to_stdnet
Date: Mon, 13 Mar 1989 11:48
Date: Mon, 13 Mar 1989 11:48
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1341 bytes
From: thelake!steve@stag.UUCP (Steve Yelvington)
Friday's edition of the Wall Street Journal carried a report that Atari
Corp. lost $97 million in the fourth quarter of 1988, including more than
$100 million in writeoffs and reserves charged to the Federated Group
retail subsidiary. According to the article, Federated's fate will be
announced soon; options include sale, spinoff and leveraged buyout.
Without the Federated losses, Atari would have made an operating profit of
$9.3 million for the quarter, down from $21.2 million, a drop attributed
to high RAM chip prices.
An Atari spokesman was quoted as saying that "a number of new items
designed to complement the existing ST and MS-DOS product lines will be
announced this year" and that RAM prices were dropping. Atari stock closed
up 75 cents, at $6.50
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Path: arc1-ca.pugleaf.net!utzoo!attcan!uunet!ncrlnk!ncrcae!hubcap!gatech!bloom-beacon!tut.cis.ohio-state.edu!unmvax!ncar!tank!shamash!com50!pwcs!stag!daemon From: to_stdnet@stag.UUCP Newsgroups: comp.sys.atari.st Subject: Atari's fourth quarter Message-ID: <739@stag.UUCP> Date: 13 Mar 89 11:48:54 GMT Sender: daemon@stag.UUCP Lines: 24