to_stdnet@stag.UUCP (03/13/89)
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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