EA reduces net losses to $677m over fiscal 2010
Income climbs to $30m over Q4 but revenues are down over full year
EA has reduced its net loss in fiscal 2010 to $677 million compared to a net loss of $1.088 billion in 2009.
Diluted loss per share was $2.08 compared to loss of $3.40 for the prior year. However, net revenue over the year was down, to £3.65 billion compared with $4.21 billion in 2009.
The fourth quarter of the year delivered better results for the publisher with a net loss of $42 million in 2009 swinging to income of $30 million.
Revenue was also up $119 million to $979 million - a performance the company attributed in part to sales of Battlefield: Bad Company 2, which exceeded its expectations.
"We had an excellent fourth quarter, driving record-breaking non-GAAP revenue in the fiscal year," said CEO John Riccitiello.
"Battlefield: Bad Company 2 outperformed, which contributed to revenue at the high end of our guidance range, and we exceeded our expectations on the bottom line."
"We are affirming our FY11 and Q1 non-GAAP guidance and expect to grow profitability in the year ahead," added CFO Eric Brown. "Our digital businesses are expected to grow approximately 30%."
On top of its net revenue, the company also ended the year with $766 million in deferred net revenue from packaged goods and digital content - up $505 million on last year.
Following its year-end results, EA affirmed that net revenue was expected to be approximately $710 to $750 million for the first quarter of fiscal 2011.
Revenue for the overall year however was predicted to fall further due to release schedule revisions. Net revenue was put at between $3.35 to $3.6 billion and loss per share at between $0.85 and $1.15.
Among the fiscal year highlights noted by the publisher was the performances of FIFA 10, Madden NFL 10, The Sims 3, Battlefield: Bad Company 2 and Need For Speed Shift, each of which sold over 4 million copies, and non-GAPP digital revenue which was up 33 per cent to $570 million.
FIFA 10 has now sold over 10 million units since its launch, while The Sims franchise has sold over 125 million units.