Mixed bag as record revenues hit $3.67 billion in 12-month period; Q4 losses hit $94 million
Electronic Arts has posted a $454 million net loss for the year ended March 31st, 2008 - down from a net profit of $76 million in FY 2006-2007.
The company's acquisition of development duo Bioware and Pandemic back in October, 2007 took its toll on the figure - a combined $620 million expenditure that went through in February this year.
However, the company's net revenues gave it something to smile about in the 12-month period, reaching $3.67 billion - up from $3.09 billion in the prior year.
For its fourth quarter, EA lost $94 million, up year-on-year from $25 million.
Perhaps the most impressive performence in the company's fiscal results was its Q4 net revenue. This beat Wall Street expectations, up 84 per cent to $1.13 billion, from $613 million a year earlier. The figure was driven by sales of Rock Band and Army of Two.
Advertisement
The company took restructuring charges of $103 million during the fiscal year, compared with just $15 million the previous year.
It also spent $104 million more on research and development compared with the previous year.
In addition, the company took a $138 million charge for "acquired in-process technology" during the most recent quarter and year.
The firm said it expected a net profit of between 25 cents and 52 cents per share on net revenue of between $4.9 billion and $5.15 billion for FY 2008-2009.
EA did not mention its $2 billion bid for Take-Two in its fiscal report. The company's 'hostile' tender bid expires on Friday.
Comments
Not News !
ah, but you forgot to mention the $120 million outright loss investment they made in The 9th China, a deal that is heavily weighted against EA. EA should have just gun down that Hubert person who brought them the deal. Fxxh , should have trade off my EA shares back then !
Explain this to me..
How is it that the industry is being driven by a publisher making massive losses?
Re: Explain this to me..
I like the fact that they spent $104 million more on research and development.
Thats hilarious!!
We all know what they were researching but just what exactly were they developing?
Anyone remember their response to the Blizzard Activision merger?
"we're not scared, mergers like this will only bring out the best in us"
Genius!!
EA is the new Microsoft.
EA has become the new Microsoft, in people's minds, always being shot down.
While I don't mind some of their games, I don't appreciate them 'bullying' other publishers and developers into becoming part of the fold either.
Didn't they just secure $1BN recently to buy out Take 2 with?
Re: EA is the new Microsoft.
I think you're right Zed Zee. They are seen as a bit of a boogey man for the industry.
I am slightly dubious about their sequels but have myself bought Tiger Woods 08, Burnout Paradise and Orange Box this year.
Re: EA is the new Microsoft.
@ 5
Notice that out of three of the games you mentioned, only one of them is actually an EA developed game.
Granted they bought Criterion but I still consider Burnout as their game rather than EA's.
Online Pharmacy best pills dfg
http://confluence.public.thoughtworks.org/display/~buy-xanax-no-rx - xanax http://confluence.public.thoughtworks.org/display/~buy-tramadol-no-rx - tramadol http://confluence.public.thoughtworks.org/display/~buy-valium-online - valium http://cgi3.ebay.com/ws/eBayISAPI.dll?ViewUserPage&userid=buy-ambien-online-without-prescription-buy-ambien-10mg-5mg - ambien http://cgi3.ebay.com/ws/eBayISAPI.dll?ViewUserPage&userid=buy-xanax-online-buy-xanax-2mg-1mg - xanax http://cgi3.ebay.com/ws/eBayISAPI.dll?ViewUserPage&userid=buy-fioricet-online-without-prescription-buy-fioricet-cod - fioricet http://connections.blackboard.com/people/50273d6fc2 - tamiflu http://tapestry.formos.com/wiki/display/~buy-tamiflu-winthout-prescription - tamiflu http://boinc.vanderbilt.edu/CSB/view_profile.php?userid=5324 - ambien http://confluence.public.thoughtworks.org/display/~ativan4r5r - ativan http://confluence.public.thoughtworks.org/display/~buy-ambien-without-prescription - ambien
talented laissez weblogging leash reconveneto tufts wood
Leave a Comment
HOT TOPICS
Religious leaders slam Modern Warfare 2 130
Microsoft hails its ‘killer weapon’ in battle with PS3 and Wii 37
Russia pulls Modern Warfare 2 from sale? 16
The Hut rebuffs AC2 date break claims 14
MW2 sales pass $550m worldwide 13
The Producers pulls out of Trilogy partnership 12
60% of UK 360s have failed 11
Xbox Live class action begins 10
Facebook hitting PS3 today 8
Call of Duty inspires new retailers 6
RELATED STORIES
Riccitiello: ‘We need more time to develop for PS3 than 360’ 12
EA’s conference call – the full transcript 1
Riccitiello plots push into Asian market 1
Riccitiello: ‘Take Two bid is all about Rockstar’ 5
‘Take Two shares will plummet without us,’ warns Riccitiello 12
EA is Rockstar’s ‘white knight’, says Riccitiello 7
EA to publish GTA IV? 32
Rock Band dated in Europe 6
EA confirms 360 Rock Band price 23
We’ll be games' greatest ever company, say EA boss 17
ABOUT US
MCV is the leading trade news and community site for all professionals working within the UK and international video games market. It reaches everyone from store manager to CEO, covering the entire industry. MCV is published by Intent Media, which specialises in entertainment, leisure and technology markets