In the Unaudited Condensed Consolidated Statements of Cash Flows table of release dated May 7, 2012, Accrued and other liabilities for the Twelve Months Ended March 31, 2012 should read: 13 (sted (13)).
The corrected release reads:
Electronic Arts Reports Q4 FY12 and FY12 Financial Results
All-Time High Non-GAAP Net Revenue of $4.2 Billion in Fiscal 12Annual Digital Non-GAAP Revenue – Up 47% to $1.2 Billion Digital Revenue Driving Margin Expansion Mass Effect 3 Sales Exceed $200 Million at Retail FIFA 12 Non-GAAP Digital Revenue Tops $100 Million Electronic Arts Inc. (NASDAQ: EA) today announced preliminary financial results for its fourth fiscal quarter and fiscal year ended March 31, 2012. “We are proud to report a strong quarter and a fiscal year highlighted with $1.2 billion of digital revenue,” said Chief Executive Officer John Riccitiello. “In the coming year, we break away from the pack, with a very different profile than the traditional game companies and capabilities that none of our new digital competitors can match.” “Digital growth drove our margins in fiscal 12 and we project this trend will continue in fiscal 13,” said Interim Chief Financial Officer Ken Barker. “We saw more than 20 percent non-GAAP diluted EPS growth in fiscal 12, and are guiding to more than 30 percent growth in fiscal 13 based on the midpoint of our guidance.” Selected Operating Highlights and Metrics: *On a non-GAAP basis
- Strong results driven by the successful launches of Mass Effect™ 3, FIFA Street 4, SSX™ and Kingdoms of Amalur: Reckoning™.
- FIFA 12 established the best year in franchise history - with downloads and micro-transactions totaling $108 million*. FIFA Ultimate Team – a pure digital companion to recent FIFA titles was the second best-selling EA offering in the UK in fiscal 12.
- Battlefield 3™ had a record year, establishing itself as one of EA’s premier game services and in the process successfully took share in the growing First-Person-Shooter market.
- Battlefield 3 players are still deeply engaged – 6.3 million MAUs in March. New content downloads available in May and June.
- Q4 full-game downloads were up 76 percent* year-over-year, contributing $60 million* in the quarter, driven in part by Mass Effect 3 and STAR WARS®: The Old Republic™.
- STAR WARS®: The Old Republic™ active subscribers are 1.3 million. Two new content packs – Legacy and Allies, available in Q1.
- EA’s Play4Free brands are generating an average of nearly $2 million* per week. Several more EA brands will be introduced in the Play4Free portal in fiscal 13.
- EA shattered its goal for digital revenue growth – generating more than $1.2 billion* in fiscal 12 for a 47 percent year-over-year growth, and driving operating margin to 10%. Another 40 percent increase in digital non-GAAP revenue and continued operating margin expansion is forecasted for fiscal 13.
- EA’s Origin™ platform for games and services has registered 11 million players and generated approximately $150 million* in just ten months. EA’s Nucleus database has registered 220 million consumers.
- Casual game leader PopCap™ – acquired by EA in August – is growing on mobile and social platforms with new games like Solitaire Blitz™ and Lucky Gem Casino™. A new version of Bejeweled™ is EA’s top grossing game on the Apple® App Store SM.
- EA repurchased 27.7 million shares for $529 million through March 31, 2012, and as of the call, the $600 million share repurchase program has been completed.
- In fiscal 13, EA will invest $80 million in development of games for Gen4 console systems.
|(in millions of $ except per share amounts)||QuarterEnded3/31/12||QuarterEnded3/31/11|
|Net Digital Revenue||$419||$211|
|Net Publishing Packaged Goods and Other Revenue||926||838|
|Net Distribution Packaged Goods Revenue||23||41|
|GAAP Total Net Revenue||1,368||1,090|
|Non-GAAP Net Digital Revenue||$425||$268|
|Non-GAAP Net Publishing Packaged Goods and Other Revenue||529||686|
|Non-GAAP Net Distribution Packaged Goods Revenue||23||41|
|Non-GAAP Total Net Revenue||977||995|
|GAAP Net Income||400||151|
|Non-GAAP Net Income||56||83|
|GAAP Diluted Earnings Per Share||1.20||0.45|
|Non-GAAP Diluted Earnings Per Share||0.17||0.25|
|Cash Flow from Operations||287||253|
|Trailing Twelve Month (TTM) Financial Highlights:|
|(in millions of $ except per share data)||TTMEnded3/31/12||TTMEnded3/31/11|
|GAAP Net Revenue||$4,143||$3,589|
|GAAP Net Income (Loss)||76||(276)|
|GAAP Diluted Earnings (Loss) Per Share||0.23||(0.84)|
|Non-GAAP Net Revenue||4,186||3,828|
|Non-GAAP Net Income||284||233|
|Non-GAAP Diluted Earnings Per Share||0.85||0.70|
|Cash Flow from Operations||277||320|
|Q4 FY12 Digital Metrics:|
|GAAP Net Mobile Revenue Non-GAAP Net Mobile Revenue||$87 $84||$70 $67|
|Monthly Active Users (MAU) in Social Games||49||36|
|Core Registered Users||220||112|
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