Electronic Arts posts wider 4Q loss on charges

Furthermore, EA's Chief Financial Officer Eric Brown said there are no new developments in the company's $2 billion bid to buy "Grand Theft Auto" publisher Take-Two Interactive Software Inc. EA's tender offer of $25.74 per share expires on Friday. Take-Two has said the price is too low.

Redwood City, Calif.-based EA posted a loss of $94 million, or 30 cents per share, compared with a loss of $25 million, or 8 cents per share, in the same period a year earlier. Results were helped by strong sales of "Army of Two," "Burnout Paradise" and "Rock Band," the popular music stimulation game EA co-publishes with MTV Games.

Excluding the effects of deferred revenue for online-enabled games, stock options costs and other items, EA earned $30 million, or 9 cents per share, in the quarter ended March 31.

Revenue jumped 84 percent to $1.13 billion from $613 million. Excluding a benefit from the recognition of deferred revenue, the quarter's sales were $919 million.

Analysts, on average, expected EA to break even on a per-share basis with sales of $834.8 million, excluding items, according to a poll by Thomson Financial.

"On balance, we're very pleased with our revenue growth, but not yet happy with our profit margins," said Chief Executive John Riccitiello in a statement.

The company had 15 titles that sold more than 2 million copies each during the year, up from 10 a year ago.

Brown, who rejoined EA last month to replace departing CFO Warren Jensen, called the quarter's results an "excellent finish to a record year." Pointing to the company's forecast to grow sales by more than $1 billion in the current fiscal year, Brown said "we don't need Take-Two to do that."

For the fiscal year ending next March, EA forecast earnings of 25 cents to 52 cents per share and adjusted earnings of $1.30 to $1.70 per share. Analysts predict a profit of $1.73 per share.