Atari 2012 Annual Report Download - page 15

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ANNUAL FINANCIAL REPORT – REGISTRATION DOCUMENT
15
Restructuring expenses
Restructuring costs for the year ended March 31, 2012 remained stable, at €0.4 million versus € 0.4 million for last Fiscal
Year. Current period expenses primarily relate to continued impact from leased facilities.
Operating income (loss)
There was an operating income at the consolidated level of €1.7 million, compared with €1.4 million the previous year, an
improvement of €0.3 million. This improvement is primarily due to the loss on disposal of assets of €0.5 million recorded
last year.
OTHER INCOME STATEMENT ITEMS
Note: The net income of Eden, in the process of being disposed of as of March 31, 2012, is reported on the line “discontinued
operations” as of April 1, 2010. 2010/2011 and 2011/2012 Group sales and current operating income exclude Eden business.
Cost of debt
Cost of debt was €2.7 million, up €0.8 million or 43.3% as compared to the prior year. This increase was due to higher
average outstanding debt balances in the current year as compared to the prior year. The Company used the proceeds
from Cryptic studios sale in August 2011 to reimburse €21.6 million to BlueBay, and therefore reduce debt levels. The
company did not require borrowings during the second half of the Fiscal Year.
For further detail, refer to note 13.
Other financial income (expenses)
Other financial income (expense) decreased by €0.8 million primarily due to fluctuations in the exchange rates during the
prior Fiscal Year.
Income tax
No Income tax expenses were recognized during this Fiscal Year, and the prior Fiscal Year.
Share of net income of equity method investments
The share of net income of equity method investments recorded by Atari amounted to €1.9 million in Fiscal year
2011/2012 and corresponded to the share of Atari in GameOne results, in which Atari held 38.6% as of March 31, 2012.
The Company disposed of its 38.6% stake in GameOne in April 2012.
Discontinued operations
As of March 31, 2012, the Company accounted for Eden Games as a “discontinued operation” in the Statement of
Income starting on April 1, 2011 as it has made the decision to divest itself from Eden Games.
On a standalone basis and after intercompany eliminations, Eden did not account for revenue on a full year basis for
Fiscal Year 2011/2012 or for the prior Fiscal Year. The net results of Eden were a loss of approximately €6.2 million for
Fiscal Year 2011/2012, as compared to a loss of approximately €1.1 million for Fiscal Year 2010/2011. Also included in
this year’s discontinued operations results is the impact of €1.3 million related to the Company’s sale of Cryptic Studio to
Perfect World, and other non-significant items (loss of €0.3 million for Atari Inc. related to the liquidation of Reflection
Ltd).
Minority interests
In this Fiscal Year, there are no impacts from minority interests.
(€ million)
OPERATING INCOME (LOSS) 1,7 4,4% 1,4 2,3% 0,3 23,9%
Cost of debt (2,7) -6,9% (1,9) -3,2% (0,8) 43,3%
Other financial income (expense) (0,1) -0,3% 0,7 1,2% (0,8) -114,3%
Income tax - - -- - -
Share of Net Income of equity method investments 1,9 4,8% - - - na
Profit (loss) from continuing operations 0,8 2,1% 0,2 0,3% 0,6 -
Profit (loss) from discontinued operations (4,5) -11,4% (6,4) -10,7% 1,9 -30,2%
Consolidated net income (loss) (3,7) -9,3% (6,2) -10,4% 2,6 -41,0%
Minority interests - - - - -
Net income (loss) attributable to equity holders of the parent (3,7) -9,3% (6,2) -10,4% 2,6 -41,0%
31-Mar-12
31-Mar-11
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