EA's Q4 Results Better Than Estimates

Consoldiated net revenue for the fourth quarter was $307.3 million, up from $294.3 million in revenue for the same period last year. The consolidated net loss for the fourth quarter was $17.9 million, or 13 cents per share, compared with net income of $3.4 million (3 cents per share) for the fourth quarter last year. The company incurred a one-time pre-tax charge of $2.7 million in the quarter related to the acquisition of Pogo.com. For the fiscal year ended March 31, 2001, Electronic Arts reported net revenues of $1.322 billion, compared with $1.420 billion for the prior fiscal year. The company posted a consolidated net loss for the year of$11.1 million (8 cents per share), compared to the prior year's net income of $116.8 million (88 cents per share). CEO Larry Probst said in a conference call to analysts that he expects the company's 2002 operating income to increase 75 to 90 percent on a year-over-year basis, estimating revenue growth in the mid-teen range.