Atari Corp, Sunnyvale, California rushed to deny reported comments from a short-seller that it might possibly go bankrupt, but said it no longer expected to be profitable overall in 1994: We’re a long way from bankruptcy, Atari chief financial officer August Liguori told Reuters, adding that it has $35m to $37m in cash and readily marketable securities – but production delays and advertising costs meant that profitability would be postponed; I certainly do feel that the profitability will occur in the first quarter of 1995 when we will not have as much advertising expenditure relative to sales, he said; Atari expects to ship about 300,000 Jaguars this year, at $250 a time, instead of the original 500,000 target, and hopes to have 30 to 50 applications ready for Christmas.
