Analyst: Ubisoft Delays To Fuel $1.5b Fiscal 2009

Ahead of its Q3 results expected January 23rd, Wedbush Morgan's Michael Pachter has predicted the company will report sales in line with estimates of €410 million ($594.4m), adding that next-gen hardware sales should help push its next fiscal year sales to €1.05 billion ($1.5b). "We note," says Pachter, "in mid-December Ubisoft significantly raised its FY:08 guidance due to much stronger than expected sales of Assassin's Creed and its 'casual' games," adding that current fiscal 2009 guidance stands at €975 million ($1.4 billion). "We continue to expect strong sales of next-gen hardware to provide a near term catalyst for Ubisoft share price appreciation," he continued. "We believe that the company's strong holiday lineup and the movement of several key games into FY:09 will position it to deliver upside in FY:09" and generate the above €1.05 billion ($1.5b). Casual games, too, concludes Pachter, will help strongly fuel the publisher's bottom line, saying "we continue to expect Ubisoft's lineup of casual games to benefit from strong DS sales, and the push out of several games into next year should position the company to deliver upside to its revenue and earnings guidance for FY:09."