EA Reports Fourth Quarter and Fiscal Year 2010 Results
ltucker
2010-05-11
EA today announced preliminary financial results for its fourth quarter and fiscal year ended March 31, 2010.
Fiscal Fourth Quarter Results (comparisons are to the quarter ended March 31, 2009)
GAAP net revenue for the fourth quarter was $979 million, up $119 million as compared with $860 million in the prior year. During the quarter, EA had a net benefit of $129 million related to the recognition of deferred net revenue for certain online-enabled packaged goods games and digital content.
Non-GAAP net revenue was $850 million, up $241 million as compared with $609 million for the prior year. Sales were driven by Battlefield: Bad Company™ 2, Mass Effect™ 2, Dante’s Inferno™ and digital businesses.
GAAP net income for the quarter was $30 million, as compared with a net loss of $42 million for the prior year. Diluted earnings per share were $0.09 as compared with diluted loss per share of ($0.13) for the prior year.
Non-GAAP net income was $23 million as compared with non-GAAP net loss of $120 million a year ago. Non-GAAP diluted earnings per share was $0.07 as compared with non-GAAP diluted loss per share of ($0.37) for the prior year.
“We had an excellent fourth quarter, driving record-breaking non-GAAP revenue in the fiscal year,” said John Riccitiello, Chief Executive Officer. “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,” said Eric Brown, Chief Financial Officer. “Our digital businesses are expected to grow approximately 30%.”
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