Ubi Soft meets earnings expectations

Ubi Soft Entertainment today announced that it exceeded its predicted sales growth of 25 percent for the fiscal year ended March 31, 2001. The company reported net consolidated sales of $236 million, which is an increase of more than 39 percent over the previous year. Net income for the company declined 58 percent to $4.2 million for the year. This decline was attributed to a transitional year in the console game market and investments in external growth totaling approximately $115 million. The company predicts a 35 to 40 percent increase in sales for the next fiscal year, due in part to the acquisitions made during the last year. Ubi Soft acquired Game Studios, the entertainment division of The Learning Company, in March, and it acquired Blue Byte Software in February. The company also acquired Red Storm Entertainment in May 2000.

Ubi Soft currently has 160 games in development, 70 of which are for next-generation platforms. For more information, visit the official Ubi Soft Web site.