Electronic Arts has released their financial statement for the first quarter of their 2010 fiscal year that ends in March 2010. This corresponds to Nintendo's Q1 FY2009, Sony's Q1 FY2009 and Microsoft's Q4 FY2009. The American videogame publisher posted a net loss of $234 million, although non-GAAP calculations brought the figure down to $6 million. Net revenue totals at $644 million for the quarter, with an operating loss of $245 million.

However, EA could claim multiple highlights for the quarter despite the loss. It was the #1 publisher in North America and Europe, owning four of the top ten titles in the two regions. Additionally, The Sims 3 was the #1 best-selling retail title for North America and Europe combined, with the PC game selling 3.7 million copies, and EA's hot new Wii fitness title, EA Sports Active, has sold 1.8 million copies, presumably in the two regions combined.

EA's Digital and Mobile revenues have also increased year-on-year. Wii software sales increased by close to 50% year-on-year using GAAP, and doubled using non-GAAP calculations. The publisher attributes this to the release of EA Sports Active, Tiger Woods PGA TOUR 10, Grand Slam Tennis, and Rock Band 2 (with MTV Games).

EA's forecast for the fiscal year (ending March 31, 2010) for net revenue is $3.7-3.85 billion (GAAP) and $4.3 billion (non-GAAP), which is in line with the company's guidance.

FY2010 Q1 Net Revenue by Region (GAAP):
North America: $343 million (down 20% year-on-year)
Europe: $258 million (down 22%)
Asia: $43 million (down 7%)

FY2010 Q1 Net Revenue by Platform (GAAP):
WII: $161 million (up 48% year-on-year) (25% of net revenue)
PS3: $121 million (down 25%) (19% of net)
360: $73 million (down 46%) (11% of net)
PS2: $27 million (down 72%) (4% of net)
Wireless: $50 million (up 14%) (8% of net)
PSP: $38 million (down 34%) (6% of net)
NDS: $28 million (up 33%) (4% of net)
PC: $124 million (down 18%) (19% of net)
Other: $22 million (down $21) (4% of net)

FY2010 Q1 Net Revenue by Platform (non-GAAP):
WII: $184 million (up 104% year-on-year) (23% of net revenue)
360: $136 million (up 1%) (17% of net)
PS3: $99 million (up 18%) (12% of net)
PS2: $20 million (down 65%) (2% of net)
Wireless: $50 million (up 14%) (6% of net)
NDS: $28 million (up 33%) (3% of net)
PSP: $22 million (down 19%) (3% of net)
PC: $255 million (up 106%) (31% of net)
Other: $22 million (down 21%) (3% of net)

FY2010 Q1 Number of SKUs by Platform:
WII: 6
360: 4
PS3: 4
PS2: 2
NDS: 2
PSP: 2
PC: 3

Electronic Arts Inc. (NASDAQ: ERTS) today announced preliminary financial results for its fiscal first quarter ended June 30, 2009.

Fiscal First Quarter Results (comparisons are to the quarter ended June 30, 2008)

GAAP net revenue for the quarter, which includes the impact of deferred revenue adjustments, was $644 million, as compared with $804 million for the prior year. During the quarter, EA had a net revenue deferral of $172 million related to certain online-enabled packaged goods games and digital content as compared with a net benefit of $195 million in the first quarter of the prior year.

Non-GAAP net revenue was $816 million, up 34 percent as compared with $609 million for the prior year. Sales were driven by launches of The Sims(TM) 3, EA SPORTS Active(TM), and Fight Night Round 4.

GAAP net loss for the quarter, including the impact of deferred revenue, was $234 million as compared with a net loss of $95 million for the prior year. GAAP diluted loss per share was $0.72 as compared with GAAP diluted loss per share of $0.30 for the prior year.

Non-GAAP net loss was $6 million as compared with a non-GAAP net loss of $135 million a year ago. Non-GAAP diluted loss per share was $0.02 as compared with a non-GAAP diluted loss per share of $0.42 for the prior year.

Trailing-twelve-month cash flow used in operations was $25 million as compared with cash flow generated from operations of $239 million a year ago. The Company ended the quarter with cash, cash equivalents and short-term investments of $1.8 billion.

"Good execution delivered better-than-expected financial results in the first quarter," said John Riccitiello, Chief Executive Officer. "We are very pleased with the success of both The Sims 3 and EA SPORTS Active."

"Our Q1 performance was driven by our previously announced cost-cutting initiatives and a strong frontline slate," said Eric Brown, Chief Financial Officer. "We had a solid Q1 both top and bottom line and we are focused on delivering the balance of the year."

Akira_EX via investor.ea.com »