Atari revenue plummets as vultures circle

By Patrick Garratt, Wednesday, 2 July 2008 20:21 GMT

Atari’s posted fiscal 2008 revenues of $80.1 million compared to $122.3 million the previous year, and has admitted it now has no valuable IP left to sell.

“During fiscal 2008, we completely terminated our product development activities and we granted IESA a seven year license to exploit our last remaining valuable game franchise,” the firm said. “Further, we increasingly focused our efforts on distributing products published by IESA. These steps substantially reduced our revenues.”

There’s more on Kotaku. None of it’s pretty.

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