A few days ago people were speculating that Atari was in deep financial trouble again. Today the publisher (previously known as Infogrames) announced their financial results for their last fiscal year and while the company had a big jump in revenues they also incurred massive losses for the year as well.

For the year that ended on March 31, Atari had 136.4 million euros in revenue, up 51 percent from the previous fiscal year. However, due to losses related to the company's departure from its European and Asian distribution business Atari had a loss of 226.1 million euros for the year, compared to a loss of just 51.1 million euros for the previous year.

Atari predicts that they will break even or even have a small profit in the second half of the current fiscal year as they transition to an online game publisher via their purchase of Cryptic Studios. In addition to Champions Online and Star Trek Online, Atari said Cryptic is working on new titles based on the company's "existing and historically successful IPs"

The company will have to without Phil Harrison as its president, however. Atari also announced today that Harrison, who came to the company a little over a year ago from Sony, will leave his position due to the publisher's focus on the US. He will remain as a "non-executive director of the group". David Gardner will remain as CEO and board member Jeff Lapin has been promoted to COO.