ATARI CORPORATION ANNOUNCES IT HAS THE RESOURCES IN PLACE TO FULFILL ITS BUSINESS PLAN FOR 1994
SUNNYVALE, Calif. — June 29, 1994 — During its June 17, 1994 Annual Shareholders meeting, Atari disclosed its plans to ship approximately 300,000 units in 1994 of the Atari Jaguar, the world's only 64 bit multimedia entertainment system made in the U.S. At the meeting Sam Tramiel, President, stated, "Our focus now is software, we plan to have 30 to 50 titles for sale by Thanksgiving. Some of these software titles will be published directly by Atari and others by independent third party publishers. There are now over 150 third party software companies that are licensees on the Jaguar platform."
At the Consumer Electronic Show, last week in Chicago, Atari and third party publishers demonstrated over 25 new software titles coming this year on Jaguar. Atari also debuted its new double speed Jaguar CD-ROM peripheral, which is expected to ship in the 4th quarter 1994 and will retail at $199.95. Atari and third party publishers plan to utilize the CD-ROM to integrate full motion video into video games.
Commenting on recent rumors of financial difficulties, August Liguori, Chief Financial Officer, said, "We have no control over statements made by a money manager who we understand has taken a short position in Atari put options using Mr. Dan Dorfman as a spokesman on CNBC. We believe that with $35 million in cash and marketable securities, that we have the resources in place to finance the business operations for 1994."
Atari Corporation designs and markets interactive multimedia entertainment systems, including Jaguar, the world's only 64 bit system. Atari is headquartered at 1196 Borregas Avenue, Sunnyvale, CA 94089.