Atari Flunks Bank Test
Get ready for yet another dismal earnings report from Atari (ATAR).
In a regulatory document filed on Tuesday, the video-game software publisher warned that results for the period ended Dec. 31 of last year didn't meet the strictures placed on the company by its lender, HSBC.
On the positive side, the fact that Atari has breached the agreement may have little immediate effect. According to the regulatory filing, Atari had essentially borrowed only a "nominal amount" of money from the credit line from HSBC.
But the negative could outweigh the positive. This marks the second time in three quarters the company's results have failed to meet the financial targets set by HSBC, even though HSBC
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