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Crysis and Army of Two delayed

by Steven Williamson on 3 November 2006, 10:21

Tags: Electronic Arts (NASDAQ:EA), Shoot 'em up

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In EA's quarterly financial conference call, executives have revealed that Crytek's first person shooter, Crysis, and Army of Two, the strategic cooperative game from EA's Montreal studio, have been delayed to EA's fiscal 2008, which begins on April 1, 2007.

We won't bore you with all the fine details of the report, but here's a snippet of the report which shows that EA's successful quarter was mainly driven by the sales of their sport titles:

EA's quarterly results

Net revenue for the second quarter was $784 million, up 16 percent as compared with $675 million for the prior year. Sales were driven primarily by Madden NFL 07, NCAA Football 07, FIFA 07, NBA Live 07 and catalog titles.

Gross profit for the quarter was $445 million, up 14 percent year-over-year. Net income for the quarter was $22 million as compared with $51 million for the prior year. The Company adopted Statement of Financial Accounting Standards (SFAS) No. 123R "Share-Based Payment" at the beginning of its fiscal year resulting in pre-tax stock-based compensation charges of $33 million in the second quarter. Diluted earnings per share were $0.07 as compared with $0.16 for the prior year.

Non-GAAP net income was $65 million as compared with $46 million a year ago - an increase of 41 percent year-over-year. Non-GAAP diluted earnings per share were $0.21 as compared with $0.15 for the prior year. (Please see Non-GAAP Financial Measures and reconciliation information included in this release.)

Trailing twelve month operating cash flow was $571 million as compared with $592 million a year ago. The Company ended the quarter with cash, cash equivalents and marketable securities of $2.4 billion.

"We are well prepared for the holidays on all platforms, including the Xbox 360, PLAYSTATION 3 and the Nintendo Wii," said Larry Probst, Chairman and Chief Executive Officer. "In the quarter, we plan to release eight titles across multiple platforms and currently have more than 30 next-generation games in development."

"This was a strong quarter for EA," said Warren Jenson, Chief Financial and Administrative Officer. "While our industry remains in the midst of transition the landscape looks strong enough that we are able to increase our guidance range for the year."

EA's full quarterly results : here


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