Slava Kozlov and Ilya Kovalchuk scored in the shootout for Atlanta.
Thrashers goalie Kari Lehtonen stopped Bill Guerin and Miroslav Satan in the shootout.
Lehtonen made 30 stops in only his second start -- both wins against the Islanders -- since missing 16 games because of a groin injury.
The Islanders outshot the Thrashers 33-24, but were held to no more than three goals for the 16th straight game.
Atlanta was stopped on four power-play chances in the first period and then made up for it the hard way, scoring two short-handed goals in the second period.
BLUE JACKETS 5, AVALANCHE 4
In Columbus, Ohio, Dan Fritsche's goal with 4:05 left capped a wild six-goal third period in Columbus' comeback victory over Colorado.
Colorado, 10-0-0 when leading after two periods entering the game, led 3-1 heading into the third period. The Avalanche also had history on their side, carrying a 22-1-1-1 record in 25 meetings with the Blue Jackets -- the most lopsided series in the NHL.
But the Blue Jackets pulled even on Rick Nash's second goal of the night and another by recent minor league recall Joakim Lindstrom midway through the period.
Then in just over a minute the teams combined for three goals.
Columbus' Nikolai Zherdev scored on a low shot from the slot with 5:16 left for a 4-3 lead, but Colorado's Scott Hannan countered off a rebound with 4:35 remaining.
Just 30 seconds later, Jason Chimera's shot was stopped by Colorado goalie Peter Budaj, but Fritsche cleaned up on a backhander.
DEVILS 4, BRUINS 3 (OT)
In Newark, N.J., Patrik Elias scored his second goal of the game with 1:44 left in overtime, and the New Jersey Devils extended their winning streak to eight.
Zach Parise also scored twice, and Martin Brodeur made 23 saves to help the Devils overcome a three-goal deficit.
Zdeno Chara, Glen Murray and Dennis Wideman had first-period goals for Boston.
SENATORS 5, PANTHERS 4
In Sunrise, Fla., Randy Robitaille scored twice, and Ray Emery stopped a penalty shot in the third period to help Ottawa snap a seven-game losing streak with a victory over Florida.
Mike Fisher, Nick Foligno and Jason Spezza also scored for the Senators. Emery finished with 21 saves.