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Home > Archive > Xbox Live > July 2005 > EA has 30~50 PS3 Dev-Kit + *hundreds* of Xbox360 Dev-Kits
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EA has 30~50 PS3 Dev-Kit + *hundreds* of Xbox360 Dev-Kits
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Quote:
Analysts downgrade stock as EA drops its full-year figures for a third
time
Leading publisher Electronic Arts has seen its rating downgraded by a
number of analysts today after the firm announced first quarter results
which were better than expected, but still significantly lower than its
performance last year.
The company also downgraded its projections for the full year to March
31st, setting its new guidance down $100 million to $3.3 to $3.4 billion -
the third time that the firm has dropped its FY06 targets in just five
months.
For the first quarter, revenues were at $365 million - down around 16
per cent compared with last year's first quarter revenues, but that's still
well ahead of analyst expectations, thanks to the million unit plus
performance of Battlefield 2 and Medal of Honor European Assault.
Earnings per share stood at a loss of 18 cents, which is also a
significant disimprovement on last year's figures - a profit of 8 cents -
but again, ahead of the expectations of Wall Street.
Although many analysts commented that the new FY06 projections appear
to be attainable for EA, and some even believe the guidance to be
conservative, many of them chose to drop their ratings of the stock
regardless.
Both Wedbush Morgan and Smith Barney Citigroup dropped the stock's
rating to "Hold" from "Buy", with Wedbush Morgan's Michael Pachter
explaining that "we believe that Electronic Arts' results going forward will
continue to be somewhat unpredictable, given uncertainty surrounding the
transition to the next generation of video game consoles."
Other analysts are more positive; Banc of America Securities' Gary
Cooper, who is retaining a Buy rating on the stock, pointed out that the
vital third quarter is now looking much more solid for EA since The
Godfather, which analysts consider to be a risky product, has been moved out
of the quarter.
"Given the transition (and sluggish Xbox sales), the holiday quarter
is still not promised," Cooper commented. "However, we believe our 3Q06
revenue estimate of $1.575 is now more achievable than EA's previous
guidance of around $1.8 billion even without The Godfather."
"We remain sceptical that this year's edition of Need for Speed can
achieve last holiday's 8.2 million units," he continued. "We have modelled
6.8 milion. Harry Potter is not what it once was, the Bond franchise needs
to bounce back from poor FY05 results and Battlefield: Modern Combat will
face an onslaught of competition from SOCOM III, Ghost Recon 3 and to a
lesser extent Call of Duty: Big Red One. Still, we now believe EA will make
Q3 primarily because the quarter's largest risk (The Godfather) has now
moved to 4Q06."
Speaking in a conference call about the results, EA executives also
revealed some information about the firm's next-generation development
efforts - claiming that the company now has hundreds of Xbox 360 development
kits (presumably counting both the old Alpha kits and the much more recent
Beta kits) and between 30 and 50 PlayStation 3 kits.
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| Mattinglyfan 2005-07-27, 8:33 pm |
| You are a dumb XXX. We don't care. Stop Cross-posting all of this garbage!
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"Mattinglyfan" <nyyankees@comcast.net> wrote in message
news:pfadnYvz-deFe3rfRVn-tA@comcast.com...
quote:
> You are a dumb XXX. We don't care. Stop Cross-posting all of this
> garbage!
>
glad you found my post informative and interesting. look forward to more in
the very near future.
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