We've already brought you good news about Activision and SquareEnix; now we've less impressive numbers from Atari.

Atari have released disappointing revenues for the third fiscal quarter, and in reaction scaled down expected profits and announced the closure of two of its studios: Santa Monica, California and Beverly, Massachusetts.

Net revenue for the last quarter of the year was down from $190.6 million (the previous year's amount) to $161.8 million. Net income fell accordingly from $23m to $19.6m.

Net income for the first three fiscal quarters of 2004 was also down from $18.1m to $14.8m (not counting the $39.4m dividend Atari received in September 03). With this lesser success in mind the publisher has lowered expectations of the fiscal fourth quarter to a net revenue of $70-80m with a net loss in the range of breakeven-to-$10m.

President and CEO Jim Caparro assured that "structural, operation and financial issues" would be looked at, and expressed optimism at Atari's future. The duties of the Santa Monica and Beverly teams will be handed over to Atari's headquarters in New York.