Atari parent Infogrames today announced the company's results for the last fiscal year. The publisher managed to cut its net loss in half, from 103.1 million euros ($159.9 million) last year to 51.1 million euros ($79.2 million) this year, with operating losses also cut down to 45.5 million euros ($70.5 million) from 61.8 million euros ($95.8 million) the year previous. Revenue took a slight dip for fiscal 07 - 08, down to 290.7 million euros ($450.9 million) from 305.3 million euros ($473.5 million) the previous fiscal year.

"Last year has been a difficult but crucial period for the Group," described CEO David Gardner. "During that period, Infogrames has carried out an intensive restructuring of its capital base, leading to an improved financial situation and has initiated an important reorganization of its global distribution network and management structures."

The fourth quarter also saw decreased sales of 67.1 million euros ($104.1 million) compared to 83.4 million euros ($129.3 million) the same period last year. Looking forward, the company expects sales growth in the next fiscal year and profitability within 18 months. Infogrames is also expecting to complete a merger with Atari in the months to come.

"In the months ahead we will capitalize on the value of the Atari brand and implement the new strategy, with the clear objective of refocusing on profitability while ensuring growth," added Gardner.