Microtransaction advocate and worldwide publisher Electronic Arts (NASDAQ: ERTS) reported a net revenue of US$ 395 million for the first quarter (Q1) of fiscal year (FY) 2007, which dipped 4% than last year's US$ 413 million. But after EA's recent announcement to 'pull the plug' on servers for older boxed games, the publisher announced via press wire than it will now recognize revenue derived from those services. Such earnings will be reflected in future financial reports.

 

The gross profit for Q1 dropped 7% to US$ 229 million compared to last year, while the company's quarter net losses reached US$ 132 million as opposed to the prior year's US$ 81 million. And for concerned investors who couldn't make it to the company's conference call, diluted loss per share was claimed at US$ 0.42 (US$ 0.26 last year). Non-GAAP diluted loss per share dipped by US$ 0.22 (US$ 0.12 last year).

Surprisingly, EA's operating cash flow was noticeably slimmer this year, as its twelve-month flow was tallied at US$ 243 million, compared to a deeper US$ 589 million pocket last year. EA claimed to have ended the quarter with cash and short term investments amounting to US$ 2.2 billion.

Biggest highlights of the quarter for the publishing giant were the two million units sold in a single week for the company's Harry Potter and the Order of the Phoenix, while closer to corporate news was the arrival of Peter Moore, former Microsoft corporate vice president, and Kathy Vrabeck, former Activision president, to the executive ranks of the company.

In addition, the company has reorganized itself into four labels which is expected to come into effect this current quarter, while expanding further into Asia with equity investments in The9 Limited, China and Neowiz Corporation, Korea. An agreement with The9 was also signed to bring EA SPORTS FIFA Online to China.

 

The 2007 Online Game Development Conference is now in full swing, as the agenda for the conference happening this May is now up, live on the official OGDC website. After the announcement of Speaker Force 8...err...the first eight confirmed speakers for the Online Game Development Conference, an official press release also previewed a few more speakers of the 80 speakers to attend the event:

• Herb Sutter - Software Architect, Microsoft
• Mike Goslin - Vice President, Virtual Reality Studio, Disney Online
• Diana Li - Vice President, Shanda
• Charles Manning - President/CEO, PLAYXPERT
• Robert Mitchell - Senior Programmer, Sony Online Entertainment
• Tony Park - Vice President, The9
• Michael Goodman - Director, Digital Entertainment, Yankee Group
• Christian Force - Director of Engineering, +7 Systems

Organized by Evergreen Events, the conference will be delivering "world-class content" to "everyone in the business of making online games." The work and preparation behind the conference soon brought forward a list of sessions and panels including, but not limited to:

• Automating Online Game Balance
• Xbox LIVE on Windows and 360: Are Your Games Dead or LIVE?
• The Chinese Game Market: Latest Developments and Trends
• Casual Games Go Global
• Dirty Secrets of Episodic Video Games
• User Research for Online Game Development
• Adapting your Online Games to the Mobile Platform
• Designing worlds - future directions of tools and technology in MMOs

Peter Freese, chairman of the OGDC, is proud to have finalized the conference's agenda, stating, "It's been a long and involved road to reach this point, but I am very proud of what we've accomplished to assemble this truly impressive slate of speakers and sessions." The 2007 OGDC will start on May 10, 2007 at the Fairmont Olympic, Seattle and will go on for two days. Click on the "Read" link below to hop over to the Agenda page.