The company announced a net profit of $9 million for the quarter ended March 31, compared with $47.3 million a year previously; however, if the charges relating to the consolidation of EA.com and some development studios are taken out of the equation, profits were more like $59 million.
For the full fiscal 2003, EA saw record net revenues of $2.48 billion, up 44 per cent on the previous year, and net income of $317 million – up a massive 212 per cent. This makes 2003 into EA’s most successful year by far – a statement which is borne out by the frankly astonishing success of its software throughout the year.
EA managed an incredible 22 platinum-selling titles (over a million units) during the fiscal year, with two of its franchises selling over ten million units apiece (The Sims and Harry Potter, unsurprisingly) while another four managed over five million each (Medal of Honor, James Bond, FIFA and Madden NFL).
For the coming year, EA expects further growth – with full-year revenues for 2004 currently projected at between $2.8 and $2.9 billion, and earnings per share up as much as 50 per cent.
This was an outstanding year for Electronic Arts, according to chairman and CEO Larry Probst. The company achieved all of its key objectives, and we are the leader on next generation consoles and on the PC. We enter our next fiscal year in great shape and with the strongest product line-up in our history.
Source: Gamesindustry.biz
