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REDWOOD CITY, Calif., Jul 29, 2008 (BUSINESS WIRE) -- Electronic Arts Inc. (NASDAQ:ERTS) today announced preliminary financial results for its fiscal first quarter ended June 30, 2008.
Fiscal First Quarter Results (comparisons are to the quarter ended June 30, 2007)
Net revenue for the first quarter was $804 million, up $409 million as compared with $395 million for the prior year. During the quarter, EA had a net benefit of $231 million year-over-year related to the recognition of deferred net revenue for certain online enabled packaged goods games.
Non-GAAP net revenue was $609 million, up 41 percent as compared with $431 million for the prior year. Sales were driven by the launches of Battlefield: Bad Company(TM) and UEFA EURO 2008(TM), as well as the continued strength of Rock Band(TM).
Net loss for the quarter was $95 million as compared with net loss of $132 million for the prior year. Diluted loss per share was $0.30 as compared with diluted loss per share of $0.42 for the prior year.
Non-GAAP net loss was $135 million as compared with a non-GAAP net loss of $69 million a year ago. Non-GAAP diluted loss per share was $0.42 as compared with a non-GAAP diluted loss per share of $0.22 for the prior year.
Trailing-twelve-month operating cash flow was $239 million as compared with $243 million a year ago. The Company ended the year with cash and short-term investments of $1.947 billion.
"We are now seeing the early returns of the change agenda we started last year," said John Riccitiello, Chief Executive Officer. "Innovation and quality are rising, our games are more accessible and fun, and we have more new titles than at any time in our history. From SPORE on the PC to Dead Space on the PLAYSTATION 3 and Xbox 360 to MySims on the Wii and Nintendo DS to Scrabble on the iPhone and Facebook, this is the best title portfolio in the company's history."
Highlights (comparisons are to the quarter ended June 30, 2007)
-- Battlefield: Bad Company, Mass Effect(TM) for the PC, SPORE(TM) Creature Creator and the recently launched NCAA(R) Football 09 debuted with strong quality ratings from critics.
-- The SPORE Creature Creator is in the hands of 2.5 million users. Over two million creatures have been uploaded into Sporepedia(TM) in just six weeks.
-- EA is the number one publisher in North America, with 17 percent segment share and number two in Europe with 14 percent segment share calendar year-to-date.
-- EA Mobile(TM) is the world's leading publisher of games for phones - with revenue of $44 million - up 33 percent year-over-year.
-- EA Partners signed a co-publishing deal with id Software to bring RAGE(TM) to consumers around the world.
-- EA acquired Hands-On-Mobile(TM) Korea, a leading Korean mobile developer and publisher.
-- EA purchased ThreeSF, developers of an online social network for gamers.
-- Critics gave EA titles high marks for quality and innovation at the recent E3 industry summit in Los Angeles. Highlights included SPORE, Mirror's Edge(TM), Dead Space(TM), Dragon Age(TM): Origins and Left 4 Dead(TM) from Valve.
Business Outlook
The following forward-looking statements, as well as those made above, reflect expectations as of July 29, 2008. Results may be materially different and are affected by many factors, including: development delays on EA's products; competition in the industry; changes in anticipated costs, expected savings and impact on EA's operations of the Company's reorganization plan; consumer demand for console hardware and the ability of the console manufacturers to produce an adequate supply of consoles to meet that demand; consumer demand for games for legacy consoles, particularly the PlayStation(R)2; the financial impact of potential future acquisitions by EA, including the potential acquisition of Take-Two Interactive Software, Inc.; the popular appeal of EA's products; changes in foreign exchange rates; the health of the economy in the U.S. and abroad; EA's effective tax rate; and other factors detailed in this release and in EA's annual and quarterly SEC filings.
Fiscal Year Expectations - Ending March 31, 2009
-- GAAP net revenue is expected to be between $4.9 and $5.15 billion as compared with $3.665 billion in the prior year - up 34 to 41 percent.
-- Non-GAAP net revenue is expected to be between $5.0 and $5.3 billion as compared with $4.020 billion in the prior year - up 24 to 32 percent.
-- GAAP diluted earnings per share are expected to be between $0.21 and $0.48 as compared with a diluted loss per share of $1.45 in the prior year.
-- Non-GAAP diluted earnings per share are expected to be between $1.30 and $1.70 as compared with $1.06 in the prior year.
-- Expected non-GAAP net income excludes the following pre-tax items from expected GAAP net income:
-- $100 to $150 million for the impact of the change in deferred net revenue (packaged goods and digital content),
-- $230 million of estimated stock-based compensation,
-- $70 million of amortization of intangible assets,
-- $40 million of restructuring charges,
-- $6 million of losses on strategic investments,
-- $2 million in acquired-in process technology,
-- Non-GAAP tax expense is expected to be $85 to $95 million higher than GAAP tax expense.
In fiscal 2009, the Company began using a fixed, long-term projected tax rate of 28 percent internally to evaluate its operating performance, to forecast, plan and analyze future periods, and to assess the performance of its management team. Accordingly, the Company has applied the same 28 percent tax rate to its fiscal 2009 non-GAAP financial results.
Conference Call
Electronic Arts will host a conference call today at 2:00 pm PT (5:00 pm ET) to review its results for the fiscal first quarter ended June 30, 2008 and its outlook for the future. During the course of the call, Electronic Arts may also disclose material developments affecting its business and/or financial performance. Listeners may access the conference call live through the following dial-in number: (877) 723-9519, access code 220497, or via webcast: http://investor.ea.com.
A dial-in replay of the conference call will be provided until August 5, 2008 at (719) 457-0820, access code 220497. A webcast archive of the conference call will be available for one year at http://investor.ea.com.
Non-GAAP Financial Measures
To supplement the Company's unaudited condensed consolidated financial statements presented in accordance with GAAP, Electronic Arts uses certain non-GAAP measures of financial performance. The presentation of these non-GAAP financial measures is not intended to be considered in isolation from, as a substitute for, or superior to, the financial information prepared and presented in accordance with GAAP, and may be different from non-GAAP financial measures used by other companies. In addition, these non-GAAP measures have limitations in that they do not reflect all of the amounts associated with the Company's results of operations as determined in accordance with GAAP. The non-GAAP financial measures used by Electronic Arts include: non-GAAP net revenue, non-GAAP gross profit, non-GAAP operating income (loss), non-GAAP net income (loss) and historical and estimated non-GAAP diluted earnings (loss) per share. These non-GAAP financial measures exclude the following items, as applicable in a given reporting period, from the Company's unaudited condensed consolidated statements of operations:
-- Amortization of intangibles
-- Stock-based compensation
-- Acquired in-process technology
-- Restructuring charges
-- Certain litigation expenses
-- Losses on strategic investments
-- Change in deferred net revenue (packaged goods and digital content)
Through the end of fiscal 2008, Electronic Arts made certain income tax adjustments to its non-GAAP financial measures to reflect the income tax effects of each of the items it excluded from its pre-tax non-GAAP financial measures, as well as certain discrete one-time income tax adjustments. This approach was consistent with how the Company evaluated operating performance, planned, forecasted and analyzed future periods, and assessed the performance of its management team.
In fiscal 2009, the Company began using a fixed, long-term projected tax rate of 28 percent internally to evaluate its operating performance, to forecast, plan and analyze future periods, and to assess the performance of its management team. Accordingly, the Company has applied the same 28 percent tax rate to its fiscal 2009 non-GAAP financial results.
Electronic Arts may consider whether other significant non-recurring items that arise in the future should also be excluded in calculating the non-GAAP financial measures it uses.
Electronic Arts believes that these non-GAAP financial measures, when taken together with the corresponding GAAP financial measures, provide meaningful supplemental information regarding the Company's performance by excluding certain items that may not be indicative of the Company's core business, operating results or future outlook. Electronic Arts' management uses, and believes that investors benefit from referring to, these non-GAAP financial measures in assessing the Company's operating results both as a consolidated entity and at the business unit level, as well as when planning, forecasting and analyzing future periods. These non-GAAP financial measures also facilitate comparisons of the Company's performance to prior periods.
In addition to the reasons stated above, which are generally applicable to each of the items Electronic Arts excludes from its non-GAAP financial measures, the Company believes it is appropriate to exclude certain items for the following reasons:
Amortization of Intangibles. When analyzing the operating performance of an acquired entity, Electronic Arts' management focuses on the total return provided by the investment (i.e., operating profit generated from the acquired entity as compared to the purchase price paid) without taking into consideration any allocations made for accounting purposes. Because the purchase price for an acquisition necessarily reflects the accounting value assigned to intangible assets (including acquired in-process technology and goodwill), when analyzing the operating performance of an acquisition in subsequent periods, the Company's management excludes the GAAP impact of acquired intangible assets to its financial results. Electronic Arts believes that such an approach is useful in understanding the long-term return provided by an acquisition and that investors benefit from a supplemental non-GAAP financial measure that excludes the accounting expense associated with acquired intangible assets.
In addition, in accordance with GAAP, Electronic Arts generally recognizes expenses for internally-developed intangible assets as they are incurred, notwithstanding the potential future benefit such assets may provide. Unlike internally-developed intangible assets, however, and also in accordance with GAAP, the Company generally capitalizes the cost of acquired intangible assets and recognizes that cost as an expense over the useful lives of the assets acquired (other than goodwill, which is not amortized, and acquired in-process technology, which is expensed immediately, as required under GAAP). As a result of their GAAP treatment, there is an inherent lack of comparability between the financial performance of internally-developed intangible assets and acquired intangible assets. Accordingly, Electronic Arts believes it is useful to provide, as a supplement to its GAAP operating results, a non-GAAP financial measure that excludes the amortization of acquired intangibles.
Stock-Based Compensation. Electronic Arts adopted SFAS 123(R), "Share-Based Payment" beginning in its fiscal year 2007. When evaluating the performance of its individual business units, the Company does not consider stock-based compensation charges. Likewise, the Company's management teams exclude stock-based compensation expense from their short and long-term operating plans. In contrast, the Company's management teams are held accountable for cash-based compensation and such amounts are included in their operating plans. Further, when considering the impact of equity award grants, Electronic Arts places a greater emphasis on overall shareholder dilution rather than the accounting charges associated with such grants.
Video game platforms have historically had a life cycle of four to six years, which causes the video game software market to be cyclical. The Company's management analyzes its business and operating performance in the context of these business cycles, comparing Electronic Arts' performance at similar stages of different cycles. For comparability purposes, Electronic Arts believes it is useful to provide a non-GAAP financial measure that excludes stock-based compensation in order to better understand the long-term performance of its core business.
Restructuring Charges. Although Electronic Arts has engaged in various restructuring activities in the past, each has been a discrete, extraordinary event based on a unique set of business objectives. Each of these restructurings has been unlike its predecessors in terms of its operational implementation, business impact and scope. The Company does not engage in restructuring activities on a regular basis or in the ordinary course of business. As such, the Company believes it is appropriate to exclude restructuring charges from its non-GAAP financial measures.
Change in Deferred Net Revenue (Packaged Goods and Digital Content). Beginning in fiscal 2008, Electronic Arts was no longer able to objectively determine the fair value of the online service included in certain of its packaged goods games and online content. As a result, the Company began recognizing the revenue from the sale of these games and content over the estimated online service period. Although Electronic Arts defers the recognition of a significant portion of its net revenue as a result of this change, there has been no adverse impact to its operating cash flow. Internally, Electronic Arts' management excludes the impact of the change in deferred net revenue related to packaged goods games and digital content in its non-GAAP financial measures when evaluating the Company's operating performance, when planning, forecasting and analyzing future periods, and when assessing the performance of its management team. The Company believes that excluding the impact of the change in deferred net revenue from its operating results is important to facilitate comparisons to prior periods during which the Company was able to objectively determine the fair value of the online service and not delay the recognition of significant amounts of net revenue related to online-enabled packaged goods.
In the financial tables below, Electronic Arts has provided a reconciliation of the most comparable GAAP financial measure to each of the historical non-GAAP financial measures used in this press release.
Forward-Looking Statements
Some statements set forth in this release, including the estimates under the headings "Business Outlook" contain forward-looking statements that are subject to change. Statements including words such as "anticipate", "believe", "estimate" or "expect" and statements in the future tense are forward-looking statements. These forward-looking statements are subject to risks and uncertainties that could cause actual events or actual future results to differ materially from the expectations set forth in the forward-looking statements. Some of the factors which could cause the Company's results to differ materially from its expectations include the following: timely development and release of Electronic Arts' products; competition in the interactive entertainment industry; the Company's ability to successfully implement its reorganization plans; the consumer demand for, and the availability of an adequate supply of console hardware units (including the Xbox 360(R) video game and entertainment system, the PLAYSTATION(R)3 computer entertainment system and the Wii(TM)); consumer demand for software for legacy consoles, particularly the PlayStation 2; the Company's ability to predict consumer preferences among competing hardware platforms; the financial impact of potential future acquisitions by EA, including the potential acquisition of Take-Two Interactive Software, Inc.; the Company's ability to realize the anticipated benefits of its acquisition of VG Holding Corp.; consumer spending trends; the seasonal and cyclical nature of the interactive game segment; the Company's ability to manage expenses during fiscal year 2009 and beyond; the Company's ability to attract and retain key personnel; changes in the Company's effective tax rates; the performance of strategic investments; adoption of new accounting regulations and standards; potential regulation of the Company's products in key territories; developments in the law regarding protection of the Company's products; fluctuations in foreign exchange rates; the Company's ability to secure licenses to valuable entertainment properties on favorable terms; the general health of the U.S. and global economy; and other factors described in the Company's Annual Report on Form 10-K for the year ended March 31, 2008. These forward-looking statements speak only as of July 29, 2008. Electronic Arts assumes no obligation and does not intend to update these forward-looking statements, including those made under the heading "Business Outlook". In addition, the preliminary financial results set forth in this release are estimates based on information currently available to Electronic Arts. While Electronic Arts believes these estimates are meaningful, they could differ from the actual amounts that Electronic Arts ultimately reports in its Quarterly Report on Form 10-Q for the fiscal quarter ended June 30, 2008. Electronic Arts assumes no obligation and does not intend to update these estimates prior to filing its Form 10-Q for the fiscal quarter ended June 30, 2008.
About Electronic Arts
Electronic Arts Inc. (EA), headquartered in Redwood City, California, is the world's leading interactive entertainment software company. Founded in 1982, the Company develops, publishes, and distributes interactive software worldwide for video game systems, personal computers, wireless devices and the Internet. Electronic Arts markets its products under four brand names: EA SPORTS(TM), EA(TM), EA SPORTS Freestyle (TM) and POGO(TM). In fiscal 2008, EA posted GAAP net revenue of $3.67 billion and had 27 titles that sold more than one million copies. EA's homepage and online game site is www.ea.com. More information about EA's products and full text of press releases can be found on the Internet at http://info.ea.com.
EA, EA SPORTS, EA SPORTS Freestyle, EA Mobile, POGO, SPORE, Sporepedia, and Dead Space are trademarks or registered trademarks of Electronic Arts Inc. in the U.S. and/or other countries. RAGE is a trademark of id Software, Inc. Battlefield: Bad Company is a trademark or registered trademark of EA Digital Illusions CE AB in the U.S. and/or other countries. Mass Effect is a trademark or registered trademark of EA International (Studio and Publishing) Ltd. The UEFA word, the UEFA EURO 2008 (tm) Official Logo, the Official Mascots and the UEFA European Football Championship(tm) Trophy are protected by trademarks and copyright. John Madden, NFL and NCAA are trademarks or registered trademarks of their respective owners and used with permission. Left 4 Dead is a trademark or registered trademark of Valve Corporation in the U.S. and/or other countries. Rock Band is a trademark of Harmonix Music Systems, Inc., a division of MTV Networks. Xbox 360 is a trademark of the Microsoft group of companies and are used under license from Microsoft. "PlayStation" and "PLAYSTATION" are registered trademarks of Sony Computer Entertainment Inc. Wii and Nintendo DS are trademarks of Nintendo. All other trademarks are the property of their respective owners.
ELECTRONIC ARTS INC. AND SUBSIDIARIES
Unaudited Condensed Consolidated Statements of Operations
(In millions, except per share data)
Three Months
Ended
June 30,
---------------
2008 2007
------- -------
Net revenue $ 804 $ 395
Cost of goods sold 296 166
------- -------
Gross profit 508 229
Operating expenses:
Marketing and sales 128 82
General and administrative 84 71
Research and development 356 250
Amortization of intangibles 15 7
Acquired in-process technology 2 -
Restructuring charges 20 2
------- -------
Total operating expenses 605 412
------- -------
Operating loss (97) (183)
Losses on strategic investments (6) -
Interest and other income, net 15 27
------- -------
Loss before provision for (benefit from) income taxes (88) (156)
Provision for (benefit from) income taxes 7 (24)
------- -------
Net loss $ (95) $ (132)
======= =======
Loss per share:
Basic and diluted $(0.30) $(0.42)
Number of shares used in computation:
Basic and diluted 318 311
Non-GAAP Results (in millions, except per share data)
The following table reconciles the Company's net loss and diluted loss
per share as presented in its Unaudited Condensed Consolidated
Statements of Operations as prepared in accordance with Generally
Accepted Accounting Principles ("GAAP") to its non-GAAP net loss and
non-GAAP diluted loss per share. The Company's non-GAAP results
exclude the following, if any: the impact of the change in deferred
net revenue (packaged goods and digital content), acquisition-related
expenses (such as amortization of intangibles and acquired in-process
technology), stock-based compensation, restructuring charges, certain
litigation expenses, and losses on strategic investments. In
addition, prior to fiscal 2009, the Company's non-GAAP financial
results excluded income tax adjustments consisting of the income tax
expense or benefit associated with the foregoing excluded items and
the impact of certain one-time income tax adjustments. On April 1,
2008, the Company began using a fixed, long-term projected tax rate
of 28% internally to evaluate its operating performance, to forecast,
plan and analyze future periods, and to assess the performance of its
management team. Accordingly, the Company began applying the same 28%
tax rate to its fiscal 2009 non-GAAP financial results. Had the three
months ended June 30, 2007, been adjusted to reflect a comparable 28%
non-GAAP tax rate, adjusted income tax adjustments would have been
($3) as compared to ($17), adjusted non-GAAP net loss would have been
$55 as compared to $69, and adjusted non-GAAP diluted loss per share
would have been $0.18 as compared to $0.22.
Three Months
Ended
June 30,
---------------
2008 2007
------- -------
Net loss $ (95) $ (132)
Change in deferred net revenue (packaged goods and
digital content) (195) 36
COGS amortization of intangibles 3 7
Amortization of intangibles 15 7
Stock-based compensation 50 28
Acquired in-process technology 2 -
Restructuring charges 20 2
Losses on strategic investments 6 -
Income tax adjustments 59 (17)
------- -------
Non-GAAP net loss $ (135) $ (69)
======= =======
Non-GAAP diluted loss per share $(0.42) $(0.22)
Number of shares used in non-GAAP diluted loss per
share computation 318 311
ELECTRONIC ARTS INC. AND SUBSIDIARIES
Unaudited Condensed Consolidated Balance Sheets
(In millions)
June 30, March 31,
2008 2008 (a)
-------- ---------
ASSETS
Current assets:
Cash, cash equivalents and short-term investments $1,947 $ 2,287
Marketable equity securities 732 729
Receivables, net of allowances of $186 and $238,
respectively 269 306
Inventories 223 168
Deferred income taxes, net 154 145
Other current assets 292 290
-------- ---------
Total current assets 3,617 3,925
Property and equipment, net 392 396
Goodwill 1,183 1,152
Other intangibles, net 259 265
Deferred income taxes, net 177 164
Other assets 146 157
-------- ---------
TOTAL ASSETS $5,774 $ 6,059
======== =========
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Accounts payable $ 167 $ 229
Accrued and other current liabilities 677 683
Deferred net revenue (packaged goods and digital
content) 192 387
-------- ---------
Total current liabilities 1,036 1,299
Income tax obligations 306 319
Other liabilities 106 102
-------- ---------
Total liabilities 1,448 1,720
Common stock 3 3
Paid-in capital 1,943 1,864
Retained earnings 1,793 1,888
Accumulated other comprehensive income 587 584
-------- ---------
Total stockholders' equity 4,326 4,339
-------- ---------
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $5,774 $ 6,059
======== =========
(a) Derived from audited financial statements.
ELECTRONIC ARTS INC. AND SUBSIDIARIES
Unaudited Condensed Consolidated Statements of Cash Flows
(In millions)
Three Months Ended
June 30,
------------------
2008 2007
--------- --------
OPERATING ACTIVITIES
Net
loss $ (95) $ (132)
Adjustments to reconcile net loss to net cash
used in operating activities:
Depreciation, amortization and accretion, net 50 36
Stock-based compensation 50 28
Non-cash restructuring charges 16 -
Net losses on investments and sale of property
and equipment 6 -
Acquired in-process technology 2 -
Change in assets and liabilities:
Receivables, net 38 138
Inventories (56) (10)
Other assets (7) (45)
Accounts payable (56) (74)
Accrued and other liabilities (18) (133)
Deferred income taxes, net (26) (36)
Deferred net revenue (packaged goods and
digital content) (195) 36
--------- --------
Net cash used in operating activities (291) (192)
--------- --------
INVESTING ACTIVITIES
Capital expenditures (31) (14)
Purchase of marketable equity securities and other
investments - (277)
Proceeds from maturities and sales of short-term
investments 135 641
Purchase of short-term investments (158) (897)
Acquisition of subsidiaries, net of cash acquired (42) -
--------- --------
Net cash used in investing activities (96) (547)
--------- --------
FINANCING ACTIVITIES
Proceeds from issuance of common stock 25 18
Excess tax benefit from stock-based compensation 9 8
--------- --------
Net cash provided by financing
activities 34 26
--------- --------
Effect of foreign exchange on cash and cash
equivalents (1) 5
--------- --------
Decrease in cash and cash equivalents (354) (708)
Beginning cash and cash equivalents 1,553 1,371
--------- --------
Ending cash and cash equivalents 1,199 663
Short-term investments 748 1,526
--------- --------
Ending cash, cash equivalents and short-term
investments $ 1,947 $ 2,189
========= ========
ELECTRONIC ARTS INC. AND SUBSIDIARIES
Unaudited Supplemental Financial Information and Business Metrics
(In millions, except per share data, SKU count and Headcount)
Q1 Q2 Q3 Q4 Q1 YOY %
FY08 FY08 FY08 FY08 FY09 Change
------- ------- ------- ------- ------- -------
CONSOLIDATED FINANCIAL
DATA
Net revenue 395 640 1,503 1,127 804 104%
Net revenue -
trailing twelve
months ("TTM") 3,073 2,929 3,151 3,665 4,074 33%
Gross profit 229 245 721 665 508 122%
Gross profit % (as a
% of net revenue) 58% 38% 48% 59% 63%
Gross profit - TTM 1,863 1,663 1,573 1,860 2,139 15%
Gross profit % (as a
% of TTM net
revenue) 61% 57% 50% 51% 53%
Operating income
(loss) (183) (274) 7 (37) (97) 47%
Operating income
(loss) % (as a % of
net revenue) (46%) (43%) - (3%) (12%)
Operating loss - TTM (25) (313) (521) (487) (401) (1504%)
Operating loss % (as
a % of TTM net
revenue) (1%) (11%) (17%) (13%) (10%)
Net loss (132) (195) (33) (94) (95) 28%
Diluted loss per
share $(0.42) $(0.62) $(0.10) $(0.30) $(0.30) 29%
Net income (loss) -
TTM 25 (192) (385) (454) (417) (1768%)
Diluted earnings
(loss) per share -
TTM $ 0.07 $(0.62) $(1.22) $(1.45) $(1.32) (1986%)
CASH FLOW DATA
Operating cash flow (192) (104) 349 285 (291) (52%)
Operating cash flow -
TTM 243 145 267 338 239 (2%)
Capital expenditures 14 23 25 22 31 121%
Capital expenditures
- TTM 154 129 122 84 101 (34%)
BALANCE SHEET DATA
Cash, cash
equivalents and
short-term
investments 2,189 2,176 2,583 2,287 1,947 (11%)
Marketable equity
securities 660 716 837 729 732 11%
Receivables, net 123 424 830 306 269 119%
Inventories 74 103 178 168 223 201%
Deferred net revenue
(packaged goods and digital
content)
End of the quarter 68 364 595 387 192
Less: Beginning of
the quarter 32 68 364 595 387
------- ------- ------- ------- -------
Change in deferred
net revenue
(packaged goods and
digital content) 36 296 231 (208) (195)
======= ======= ======= ======= =======
STOCK-BASED
COMPENSATION
Cost of goods sold - 1 1 - 1
Marketing and sales 4 5 5 5 5
General and
administrative 8 10 11 9 10
Research and
development 16 22 21 31 34
------- ------- ------- ------- -------
Total Stock-Based
Compensation 28 38 38 45 50
======= ======= ======= ======= =======
Marketing and sales 1% 1% 1% - 1%
General and
administrative 2% 2% 1% 1% 1%
Research and
development 4% 3% 1% 3% 4%
------- ------- ------- ------- -------
Total Stock-Based
Compensation (as a
% of Net Revenue) 7% 6% 3% 4% 6%
======= ======= ======= ======= =======
OTHER
Employees 8,101 8,239 8,165 9,037 9,391 16%
Diluted weighted-
average shares 311 313 315 317 318
GEOGRAPHIC NET REVENUE
MIX
North America 163 362 768 649 429 163%
Europe 204 246 668 421 329 61%
Asia 28 32 67 57 46 64%
------- ------- ------- ------- -------
Net Revenue 395 640 1,503 1,127 804 104%
======= ======= ======= ======= =======
Geographic Net
Revenue Mix (as a %
of Net Revenue)
North America 41% 57% 51% 58% 53%
Europe 52% 38% 44% 37% 41%
Asia 7% 5% 5% 5% 6%
------- ------- ------- ------- -------
Net Revenue 100% 100% 100% 100% 100%
======= ======= ======= ======= =======
ELECTRONIC ARTS INC. AND SUBSIDIARIES
Unaudited Supplemental Financial Information and Business Metrics
(in millions, except per share data, SKU count and Headcount)
Q1 Q2 Q3 Q4 Q1 YOY %
FY08 FY08 FY08 FY08 FY09 Change
------- ------- ------- ------- ------- -------
PLATFORM NET REVENUE
MIX
PLAYSTATION 3 13 17 102 152 139 969%
Xbox 360 47 218 196 128 81 72%
PlayStation 2 61 73 301 166 79 30%
Wii 29 59 139 75 57 97%
Xbox 3 12 3 1 - (100%)
Nintendo GameCube 1 3 1 - - (100%)
------- ------- ------- ------- -------
Total Consoles 154 382 742 522 356 131%
PC 89 79 148 114 86 (3%)
PSP 21 21 74 69 57 171%
Wireless 33 37 39 42 44 33%
Nintendo DS 25 47 122 36 21 (16%)
Game Boy Advance 2 4 2 - - (100%)
------- ------- ------- ------- -------
Total Mobility 81 109 237 147 122 51%
Co-publishing and
Distribution 39 33 320 295 191 390%
Licensing,
Advertising & Other 10 14 31 24 21 110%
Subscription Services 22 23 25 25 28 27%
------- ------- ------- ------- -------
Total Internet
Services, Licensing
& Other 32 37 56 49 49 53%
------- ------- ------- ------- -------
Total Net Revenue 395 640 1,503 1,127 804 104%
======= ======= ======= ======= =======
Platform Net Revenue
Mix (as a % of Net
Revenue)
PLAYSTATION 3 3% 3% 7% 14% 17%
Xbox 360 12% 34% 13% 11% 10%
PlayStation 2 16% 11% 20% 15% 10%
Wii 7% 9% 9% 7% 7%
Xbox 1% 2% - - -
Nintendo GameCube - 1% - - -
------- ------- ------- ------- -------
Total Consoles 39% 60% 49% 47% 44%
PC 23% 12% 10% 10% 11%
PSP 5% 3% 5% 6% 7%
Wireless 8% 6% 3% 4% 5%
Nintendo DS 6% 7% 8% 3% 3%
Game Boy Advance 1% 1% - - -
------- ------- ------- ------- -------
Total Mobility 20% 17% 16% 13% 15%
Co-publishing and
Distribution 10% 5% 21% 26% 24%
Licensing,
Advertising & Other 2% 2% 2% 2% 3%
Subscription Services 6% 4% 2% 2% 3%
------- ------- ------- ------- -------
Total Internet
Services, Licensing
& Other 8% 6% 4% 4% 6%
------- ------- ------- ------- -------
Total Net Revenue 100% 100% 100% 100% 100%
======= ======= ======= ======= =======
PLATFORM SKU RELEASE
MIX (a)
PLAYSTATION 3 1 7 5 4 3 200%
Xbox 360 2 8 5 4 4 100%
PlayStation 2 1 7 7 - 2 100%
Wii 2 5 7 - 1 (50%)
Xbox - 2 - - - -
Nintendo GameCube - 1 - - - -
------- ------- ------- ------- -------
Total Consoles 6 30 24 8 10 67%
PC 5 7 4 5 8 60%
PSP 1 3 4 1 1 -
Nintendo DS 2 4 5 1 - (100%)
Game Boy Advance - 1 - - - -
------- ------- ------- ------- -------
Total Mobility 3 8 9 2 1 (67%)
------- ------- ------- ------- -------
Total SKUs 14 45 37 15 19 36%
======= ======= ======= ======= =======
(a) Mac(R), Wireless, and iPod(R) releases are not included in SKU
count.
ELECTRONIC ARTS INC. AND SUBSIDIARIES
Unaudited Reconciliation of GAAP to Non-GAAP Results
(In millions, except per share data)
The following tables reconcile the Company's net revenue, gross
profit, operating income (loss), net loss and diluted loss per share
as presented in its Unaudited Condensed Consolidated Statements of
Operations as prepared in accordance with Generally Accepted
Accounting Principles ("GAAP") with its non-GAAP net revenue, non-
GAAP gross profit, non-GAAP operating income (loss), non-GAAP net
income (loss), and non-GAAP diluted earnings (loss) per share. The
Company's non-GAAP net revenue excludes the impact of the change in
deferred net revenue (packaged goods and digital content). The
Company's non-GAAP gross profit excludes the impact of the change in
deferred net revenue (packaged goods and digital content), COGS
amortization of intangibles, and stock-based compensation. The
Company's non-GAAP operating income (loss), non-GAAP net income
(loss), and non-GAAP diluted earnings (loss) per share exclude the
impact of the change in deferred net revenue (packaged goods and
digital content), amortization of intangibles, stock-based
compensation, acquired in-process technology, and restructuring
charges. In addition, the Company's non-GAAP net income (loss) and
non-GAAP diluted earnings (loss) per share exclude losses on
strategic investments and, prior to fiscal 2009, income tax
adjustments consisting of the income tax expense or benefit
associated with the foregoing excluded items and the impact of
certain one-time income tax adjustments. On April 1, 2008, the
Company began using a fixed, long-term projected tax rate of 28%
internally to evaluate its operating performance, to forecast, plan
and analyze future periods, and to assess the performance of its
management team. Accordingly, the Company began applying the same 28%
tax rate to its fiscal 2009 non-GAAP financial results. Had Q1, Q2,
Q3, and Q4 in FY08 been adjusted to reflect a comparable 28% non-GAAP
tax rate, adjusted income tax adjustments would have been ($3),
($78), ($52), and ($37) as compared to ($17), ($71), ($49), and $6,
adjusted non-GAAP net income (loss) would have been ($55), $80, $287,
and ($13) as compared to ($69), $87, $290, and $30, and adjusted non-
GAAP diluted earnings (loss) per share would have been ($0.18),
$0.25, $0.89, and ($0.04) as compared to ($0.22), $0.27, $0.90, and
$0.09.
Q1 Q2 Q3 Q4 Q1 YOY %
FY08 FY08 FY08 FY08 FY09 Change
-------- ------- ------- -------- -------- -------
QUARTERLY
RECONCILIATION OF
RESULTS
GAAP net revenue $ 395 $ 640 $1,503 $1,127 $ 804 104%
Change in
deferred net
revenue
(packaged goods
and digital
content) 36 296 231 (208) (195)
-------- ------- ------- -------- --------
Non-GAAP net
revenue $ 431 $ 936 $1,734 $ 919 $ 609 41%
======== ======= ======= ======== ========
GAAP gross profit $ 229 $ 245 $ 721 $ 665 $ 508 122%
Change in
deferred net
revenue
(packaged goods
and digital
content) 36 296 231 (208) (195)
COGS amortization
of intangibles 7 7 6 6 3
Stock-based
compensation - 1 1 - 1
-------- ------- ------- -------- --------
Non-GAAP gross
profit $ 272 $ 549 $ 959 $ 463 $ 317 17%
======== ======= ======= ======== ========
Non-GAAP gross
profit % (as a %
of non-GAAP net
revenue) 63% 59% 55% 50% 52%
GAAP operating
income (loss) $ (183) $ (274) $ 7 $ (37) $ (97) 47%
Change in
deferred net
revenue
(packaged goods
and digital
content) 36 296 231 (208) (195)
COGS amortization
of intangibles 7 7 6 6 3
Amortization of
intangibles 7 7 7 13 15
Stock-based
compensation 28 38 38 45 50
Acquired in-
process
technology - - - 138 2
Restructuring
charges 2 5 78 18 20
-------- ------- ------- -------- --------
Non-GAAP operating
income (loss) $ (103) $ 79 $ 367 $ (25) $ (202) (96%)
======== ======= ======= ======== ========
Non-GAAP
operating income
(loss) profit %
(as a % of non-
GAAP net
revenue) (24%) 8% 21% (3%) (33%)
GAAP net loss $ (132) $ (195) $ (33) $ (94) $ (95) 28%
Change in
deferred net
revenue
(packaged goods
and digital
content) 36 296 231 (208) (195)
COGS amortization
of intangibles 7 7 6 6 3
Amortization of
intangibles 7 7 7 13 15
Stock-based
compensation 28 38 38 45 50
Acquired in-
process
technology - - - 138 2
Restructuring
charges 2 5 78 18 20
Losses on
strategic
investments - - 12 106 6
Income tax
adjustments (17) (71) (49) 6 59
-------- ------- ------- -------- --------
Non-GAAP net
income (loss) $ (69) $ 87 $ 290 $ 30 $ (135) (96%)
======== ======= ======= ======== ========
Non-GAAP net
income (loss) %
(as a % of non-
GAAP net
revenue) (16%) 9% 17% 3% (22%)
GAAP diluted loss
per share $(0.42) $(0.62) $(0.10) $(0.30) $(0.30) 29%
Non-GAAP diluted
earnings (loss)
per share $(0.22) $ 0.27 $ 0.90 $ 0.09 $(0.42) (91%)
Number of shares
used in non-GAAP
diluted earnings
(loss) per share
computation 311 320 323 323 318
ELECTRONIC ARTS INC. AND SUBSIDIARIES
Unaudited Reconciliation of GAAP to Non-GAAP Results
(in millions, except per share data)
The following tables reconcile the Company's net revenue, gross
profit, operating loss, net income (loss) and diluted earnings (loss)
per share as presented in its Unaudited Condensed Consolidated
Statements of Operations as prepared in accordance with Generally
Accepted Accounting Principles ("GAAP") with its non-GAAP net
revenue, non-GAAP gross profit, non-GAAP operating income, non-GAAP
net income, and non-GAAP diluted earnings per share. The Company's
non-GAAP net revenue excludes the impact of the change in deferred
net revenue (packaged goods and digital content). The Company's non-
GAAP gross profit excludes the impact of the change in deferred net
revenue (packaged goods and digital content), COGS amortization of
intangibles, and stock-based compensation. The Company's non-GAAP
operating income, non-GAAP net income, and non-GAAP diluted earnings
per share exclude the impact of the change in deferred net revenue
(packaged goods and digital content), amortization of intangibles,
stock-based compensation, acquired in-process technology, and
restructuring charges. In addition, the Company's non-GAAP net income
and non-GAAP diluted earnings per share exclude losses on strategic
investments and, prior to fiscal 2009, income tax adjustments
consisting of the income tax expense or benefit associated with the
foregoing excluded items and the impact of certain one-time income
tax adjustments. On April 1, 2008, the Company began using a fixed,
long-term projected tax rate of 28% internally to evaluate its
operating performance, to forecast, plan and analyze future periods,
and to assess the performance of its management team. Accordingly,
the Company began applying the same 28% tax rate to its fiscal 2009
non-GAAP financial results. Had Q1, Q2, Q3, and Q4 in FY08 and Q1 in
FY09 been adjusted to reflect a comparable 28% non-GAAP tax rate,
adjusted TTM income tax adjustments would have been ($27), ($96),
($150), ($170), and ($108) as compared to ($39), ($100), ($138),
($131), and ($55), adjusted TTM non-GAAP net income would have been
$228, $242, $315, $300, and $219 as compared to $216, $238, $327,
$339, and $272, and adjusted TTM non-GAAP diluted earnings per share
would have been $0.71, $0.75, $0.97, $0.94, and $0.68 as compared to
$0.68, $0.74, $1.01, $1.06, and $0.84, respectively.
Q1 Q2 Q3 Q4 Q1 YOY %
FY08 FY08 FY08 FY08 FY09 Change
-------- ------- ------- -------- -------- -------
TRAILING TWELVE
MONTH
RECONCILIATION OF
RESULTS
GAAP net revenue $3,073 $2,929 $3,151 $3,665 $4,074 33%
Change in
deferred net
revenue
(packaged goods
and digital
content) (a) 36 332 563 355 124
-------- ------- ------- -------- --------
Non-GAAP net
revenue (a) $3,109 $3,261 $3,714 $4,020 $4,198 35%
======== ======= ======= ======== ========
GAAP gross profit $1,863 $1,663 $1,573 $1,860 $2,139 15%
Change in
deferred net
revenue
(packaged goods
and digital
content) (a) 36 332 563 355 124
COGS amortization
of intangibles 28 28 27 26 22
Stock-based
compensation 2 2 3 2 3
-------- ------- ------- -------- --------
Non-GAAP gross
profit $1,929 $2,025 $2,166 $2,243 $2,288 19%
======== ======= ======= ======== ========
Non-GAAP gross
profit % (as a %
of non-GAAP net
revenue) 62% 62% 58% 56% 55%
GAAP operating
loss $ (25) $ (313) $ (521) $ (487) $ (401) (1504%)
Change in
deferred net
revenue
(packaged goods
and digital
content) (a) 36 332 563 355 124
COGS amortization
of intangibles 28 28 27 26 22
Amortization of
intangibles 28 28 28 34 42
Stock-based
compensation 124 129 132 150 171
Acquired in-
process
technology 3 1 - 138 140
Restructuring
charges 11 12 88 103 121
-------- ------- ------- -------- --------
Non-GAAP operating
income $ 205 $ 217 $ 317 $ 319 $ 219 7%
======== ======= ======= ======== ========
Non-GAAP
operating income
% (as a % of
non-GAAP net
revenue) 7% 7% 9% 8% 5%
GAAP net income
(loss) $ 25 $ (192) $ (385) $ (454) $ (417) (1768%)
Change in
deferred net
revenue
(packaged goods
and digital
content) (a) 36 332 563 355 124
COGS amortization
of intangibles 28 28 27 26 22
Amortization of
intangibles 28 28 28 34 42
Stock-based
compensation 124 129 132 150 171
Acquired in-
process
technology 3 1 - 138 140
Restructuring
charges 11 12 88 103 121
Losses on
strategic
investments - - 12 118 124
Income tax
adjustments (39) (100) (138) (131) (55)
-------- ------- ------- -------- --------
Non-GAAP net
income $ 216 $ 238 $ 327 $ 339 $ 272 26%
======== ======= ======= ======== ========
Non-GAAP net
income % (as a %
of non-GAAP net
revenue) 7% 7% 9% 8% 6%
GAAP diluted
earnings (loss)
per share $ 0.07 $(0.62) $(1.22) $(1.45) $(1.32) (1986%)
Non-GAAP diluted
earnings per
share $ 0.68 $ 0.74 $ 1.01 $ 1.06 $ 0.84 24%
(a) Prior to fiscal 2008, the change in deferred net revenue (packaged
goods and digital content) did not have a material impact on the
Company's net revenue. Accordingly, the Company has not revised its
fiscal 2007 non-GAAP financial measures to exclude the impact of the
change in deferred net revenue (packaged goods and digital content).
ELECTRONIC ARTS INC. AND SUBSIDIARIES
Unaudited Supplemental Non-GAAP Financial Information and Business
Metrics
(in millions, except per share data)
Q1 Q2 Q3 Q4 Q1 YOY %
FY08 FY08 FY08 FY08 FY09 Change
-------- ------- ------- -------- -------- -------
CONSOLIDATED NON-
GAAP FINANCIAL
DATA (a)
Non-GAAP net
revenue 431 936 1,734 919 609 41%
Non-GAAP net
revenue - TTM 3,109 3,261 3,714 4,020 4,198 35%
Non-GAAP gross
profit 272 549 959 463 317 17%
Non-GAAP gross
profit % (as a %
of non-GAAP net
revenue) 63% 59% 55% 50% 52%
Non-GAAP gross
profit - TTM 1,929 2,025 2,166 2,243 2,288 19%
Non-GAAP gross
profit % (as a %
of TTM non-GAAP
net revenue) 62% 62% 58% 56% 55%
Non-GAAP operating
income (loss) (103) 79 367 (25) (202) (96%)
Non-GAAP
operating income
(loss) % (as a %
of non-GAAP net
revenue) (24%) 8% 21% (3%) (33%)
Non-GAAP operating
income - TTM 205 217 317 319 219 7%
Non-GAAP
operating income
% (as a % of TTM
non-GAAP net
revenue) 7% 7% 9% 8% 5%
Non-GAAP net
income (loss) (b) (69) 87 290 30 (135) (96%)
Non-GAAP diluted
earnings (loss)
per share (b) $(0.22) $ 0.27 $ 0.90 $ 0.09 $(0.42) (91%)
Non-GAAP net
income - TTM (b) 216 238 327 339 272 26%
Non-GAAP diluted
earnings per
share - TTM (b) $ 0.68 $ 0.74 $ 1.01 $ 1.06 $ 0.84 24%
GEOGRAPHIC NET
REVENUE MIX (GAAP
TO NON-GAAP
RECONCILIATION)
North America 163 362 768 649 429 163%
Europe 204 246 668 421 329 61%
Asia 28 32 67 57 46 64%
-------- ------- ------- -------- --------
GAAP Net Revenue 395 640 1,503 1,127 804 104%
North America 8 163 93 (105) (89)
Europe 21 129 124 (103) (95)
Asia 7 4 14 - (11)
-------- ------- ------- -------- --------
Change In
Deferred Net
Revenue
(Packaged Goods
and Digital
Content) 36 296 231 (208) (195)
North America 171 525 861 544 340 99%
Europe 225 375 792 318 234 4%
Asia 35 36 81 57 35 -
-------- ------- ------- -------- --------
Non-GAAP Net
Revenue 431 936 1,734 919 609 41%
======== ======= ======= ======== ========
Non-GAAP
Geographic Net
Revenue Mix (as a
% of Non-GAAP Net
Revenue)
North America 40% 56% 50% 59% 56%
Europe 52% 40% 45% 35% 38%
Asia 8% 4% 5% 6% 6%
-------- ------- ------- -------- --------
Non-GAAP Net
Revenue 100% 100% 100% 100% 100%
======== ======= ======= ======== ========
(a) Refer to Unaudited Reconciliation of GAAP to Non-GAAP Results.
(b) On April 1, 2008, the Company began using a fixed, long-term
projected tax rate of 28% internally to evaluate its operating
performance, to forecast, plan and analyze future periods, and to
assess the performance of its management team. Accordingly, the
Company began applying the same 28% tax rate to its fiscal 2009 non-
GAAP financial results. Had Q1, Q2, Q3, and Q4 in FY08 been adjusted
to reflect a comparable 28% non-GAAP tax rate, adjusted non-GAAP net
income (loss) would have been ($55), $80, $287, and ($13) as compared
to ($69), $87, $290, and $30, and adjusted non-GAAP diluted earnings
(loss) per share would have been ($0.18), $0.25, $0.89, and ($0.04)
as compared to ($0.22), $0.27, $0.90, and $0.09. Had Q1, Q2, Q3, and
Q4 in FY08 and Q1 in FY09 been adjusted to reflect a comparable 28%
non-GAAP tax rate, adjusted TTM non-GAAP net income would have been
$228, $242, $315, $300, and $219 as compared to $216, $238, $327,
$339, and $272, and adjusted TTM non-GAAP diluted earnings per share
would have been $0.71, $0.75, $0.97, $0.94, and $0.68 as compared to
$0.68, $0.74, $1.01, $1.06, and $0.84, respectively.
ELECTRONIC ARTS INC. AND SUBSIDIARIES
Unaudited Supplemental Non-GAAP Financial Information and Non-GAAP
Business Metrics
(in millions)
Q1 Q2 Q3 Q4 Q1 YOY %
FY08 FY08 FY08 FY08 FY09 Change
-------- ------- ------- -------- -------- -------
PLATFORM NON-GAAP
NET REVENUE MIX
Non-GAAP Net
Revenue
Xbox 360 47 218 196 128 81 72%
PLAYSTATION 3 20 98 196 138 68 240%
PlayStation 2 69 204 324 52 40 (42%)
Wii 29 83 156 61 39 34%
Xbox 3 12 3 1 - (100%)
Nintendo GameCube 1 3 1 - - (100%)
-------- ------- ------- -------- --------
Total Consoles 169 618 876 380 228 35%
PC 96 116 153 92 70 (27%)
Wireless 34 37 39 42 43 26%
PSP 30 43 111 47 26 (13%)
Nintendo DS 25 47 122 36 21 (16%)
Game Boy Advance 2 4 2 - - (100%)
-------- ------- ------- -------- --------
Total Mobility 91 131 274 125 90 (1%)
Co-publishing and
Distribution 39 32 372 271 171 338%
Subscription
Services 23 23 23 23 27 17%
Licensing,
Advertising &
Other 13 16 36 28 23 77%
-------- ------- ------- -------- --------
Total Internet
Services,
Licensing &
Other 36 39 59 51 50 39%
-------- ------- ------- -------- --------
Non-GAAP Net
Revenue 431 936 1,734 919 609 41%
Change in Deferred
Net Revenue
(Packaged Goods
and Digital
Content)
PLAYSTATION 3 (7) (81) (94) 14 71
PlayStation 2 (8) (131) (23) 114 39
Wii - (24) (17) 14 18
PC (7) (37) (5) 22 16
Wireless (1) - - - 1
PSP (9) (22) (37) 22 31
Co-publishing and
Distribution - 1 (52) 24 20
Subscription
Services (1) - 2 2 1
Licensing,
Advertising &
Other (3) (2) (5) (4) (2)
-------- ------- ------- -------- --------
Change in
Deferred Net
Revenue
(Packaged Goods
and Digital
Content) (36) (296) (231) 208 195
-------- ------- ------- -------- --------
GAAP Net Revenue 395 640 1,503 1,127 804
======== ======= ======= ======== ========
PLATFORM NON-GAAP
NET REVENUE MIX
(as a % of Non-
GAAP Net Revenue)
Non-GAAP Net
Revenue
Xbox 360 11% 23% 11% 14% 13%
PLAYSTATION 3 5% 11% 11% 15% 11%
PlayStation 2 16% 22% 19% 5% 7%
Wii 7% 9% 9% 7% 6%
Xbox 1% 1% - - -
-------- ------- ------- -------- --------
Total Consoles 40% 66% 50% 41% 37%
PC 22% 12% 9% 10% 12%
Wireless 8% 4% 2% 4% 7%
PSP 7% 5% 7% 5% 4%
Nintendo DS 6% 5% 7% 4% 4%
-------- ------- ------- -------- --------
Total Mobility 21% 14% 16% 13% 15%
Co-publishing and
Distribution 9% 4% 22% 30% 28%
Subscription
Services 5% 2% 1% 3% 4%
Licensing,
Advertising &
Other 3% 2% 2% 3% 4%
-------- ------- ------- -------- --------
Total Internet
Services,
Licensing &
Other 8% 4% 3% 6% 8%
-------- ------- ------- -------- --------
Non-GAAP Net
Revenue 100% 100% 100% 100% 100%
======== ======= ======= ======== ========
ELECTRONIC ARTS INC. AND SUBSIDIARIES
Unaudited Supplemental Fact Sheet
Q1 FY09 Product Releases
Product Release (i) Platform
Consoles
------------------------------------------------
-- Battlefield: Bad Company(TM) PLAYSTATION(R)3
-- NASCAR(R) 09 PLAYSTATION 3
-- UEFA EURO 2008(TM) PLAYSTATION 3
-- Battlefield: Bad Company Xbox 360(TM)
-- Command & Conquer(TM) 3: Kane's Wrath Xbox 360
-- NASCAR 09 Xbox 360
-- UEFA EURO 2008 Xbox 360
-- NASCAR 09 PlayStation(R)2
-- UEFA EURO 2008 PlayStation 2
-- BOOM BLOX(TM) Wii(TM)
PC
------------------------------------------------
-- Mass Effect(TM) PC
-- SimCity(TM) Societies Destinations PC
-- Spore(TM) Creature Creator PC
-- The SimCity(TM) Box (ii) PC
-- The Sims(TM) 2 Double Deluxe PC
-- The Sims(TM) 2 IKEA(R) Home Stuff PC
-- The Sims(TM) 2 Kitchen & Bath Interior Design PC
Stuff
-- UEFA EURO 2008 PC
-- Spore Creature Creator Mac(R)
Mobility
------------------------------------------------
-- UEFA EURO 2008 PSP(R)
-- BOOM BLOX Wireless
-- EA SPORTS(TM) NCAA(R) Football 09 Wireless
-- KUNG FU PANDA(TM) Wireless
-- MONOPOLY Wireless
-- MONOPOLY TYCOON Wireless
-- Puzzle Paradise Wireless
-- ROAD RASH(TM) Wireless
-- The Godfather(TM) Wireless
-- YAHTZEE ADVENTURES Wireless
-- MONOPOLY iPod(R)
-- The Sims(TM) DJ iPod
Co-publishing, Distribution, and International
only (iii)
------------------------------------------------
-- Rock Band(TM)(iv) Xbox 360
-- Rock Band Wii
-- Half-Life(R) 2: Episode Two PC
-- Portal PC
-- SimCity Societies Deluxe (v) PC
-- Team Fortress 2 PC
-- UEFA EURO 2008 (vi) Wireless
(i) Mac, Wireless, and iPod releases are not included in SKU count.
(ii) Released as a deluxe compilation for SimCity Societies in North
America.
(iii) Co-publishing, distribution, and international only releases are
not included in SKU count.
(iv) Released in Europe and previously released in North America in
fiscal 2008.
(v) Released as a deluxe compilation for SimCity Societies in
Europe.
(vi) Released in Europe.
All trademarks are the property of their respective owners.
SOURCE: Electronic Arts Inc.
Electronic Arts Inc. Tricia Gugler, 650-628-7327 Senior Director, Investor Relations or Jeff Brown, 650-628-7922 Vice President, Corporate Communications
Copyright Business Wire 2008
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