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Earnings

Earnings: Electronic Arts FY06 4Q Profit Down; Full Year Digital Rev Up 47 Percent

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Video game marketer Electronic Arts (Nasdaq: ERTS) did not score high in FY06 1Q. The company reported gross profit of $378 million, down 5 percent year-over-year, while non-GAAP net income dropped 56 percent to $19 million from $43 million a year ago. As for FY06 4Q net revenue, that number came in at $613 million, down four percent as compared with last year’s $641 million. The company’s net loss widened for the quarter to $25 million, as compared with a net loss of $16 million for the prior year. Other highlights:

—For the full year ending March 31, EA’s net revenue was $3.091 billion, a 5 percent gain over $2.951 billion for FY05.

—FY06’s digital revenue $127 million - a 47 percent rise year-over-year.

—In its earnings forecast for the current fiscal year, EA expects net revenue to be between $3.1 and $3.4 billion, with non-GAAP net revenue ranging from $3.6 to $3.8 billion. Earnings release | Webcast

 

May 8, 2007 5:16 PM ET

Posted In: Entertainment, Games, Money, Earnings

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