EA Q1

EA has posted a loss for its first fiscal quarter 2001, which ended June 30. Net revenues were $154.8 million compared to $186.1 million for the same period last year. On an as-reported basis, the consolidated net loss and diluted net loss per share were $42.3 million and 65 cents respectively, compared with net income and earnings per share of $2.3 million and 4 cents in the same period last year. CEO Larry Probst attributed the loss in part to the anticipated seasonal slump prior to the U.S. debut of Playstation 2. Net revenues were down 30 percent in North America with no new Playstation or Nintendo 64 titles shipping during the quarter, but revenues in Asia were up slightly in part both to strong PC sales and the success of FIFA Soccer World Championship for Playstation 2, which topped the Japanese charts during the quarter. The top-selling title for the quarter was The Sims, which was released in EA's previous fiscal year.