Ubisoft sales slide 42 percent

Ubisoft today reported earnings for its first quarter ended June 30, revealing sales plummeted 42.2 percent to €76 million ($99 million). During the same period last year, which included the release of Ghost Recon: Future Soldier, Ubisoft reported €131 million ($171 million) in sales.

A bright spot on Ubisoft's earnings sheet were back-catalog sales, which rose 56 percent to €60 million ($78 million). Ubisoft attributed this result to a "solid performance" by Far Cry 3, Assassin's Creed III, Just Dance 4, Rocksmith, and Rayman Origins.

Digital sales were up 27 percent to €34 million ($44 million) during the quarter, driven primarily by Far Cry 3: Blood Dragon and Call of Juarez: Gunslinger. Blood Dragon has sold over 500,000 copies to date.

"Ubisoft's teams once again performed remarkably well at this year's E3 in a very competitive and dynamic environment. The event was an opportunity to fully confirm the potential of the next-generation consoles whose launch in late 2013 is synonymous with a new growth phase for Ubisoft and the industry as a whole," Ubisoft CEO Yves Guillemot said in a statement.

Sales for the second quarter, which sees the release of Splinter Cell: Blacklist (August 20) and Rayman Legends (September 3), are expected to hit €200 million ($262 million), up 35 percent from a year ago.

Ubisoft is currently holding a conference call to discuss results.