Earnings: ERTS Moves To Loss On Major Tax Bite: "Electronic Art’s woes continue with a tax-related net loss of $16 million for the fourth quarter of its fiscal year compared to an $8 million profit in the same quarter last year. Net revenue rose 16 percent to $641 million. Net income for the year was down to $236 million, or 75 cents per share, compared to $504 million, or $1.59.
Chairman and CEO Larry Probst: ‘This transition is more than a console upgrade. In addition to creating games for the PlayStation 3, Xbox 360 and Nintendo Wii, EA is positioning for global leadership in online, handhelds and mobile phones.’ CFO Warren Jenson said the company continues ‘to invest ahead of revenues for long-term leadership.’ Earnings release | Webcast (replay)
- A Limited New Lineup From Electronic Arts, the Video Game Giant
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