Electronic Art, Inc. (ERTS) Maintains Hold Rating
February 05, 2010 1:08 PM
Analysts at Hudson Square Research have maintained a Hold rating for Electronic Art, Inc. (NASDAQ: ERTS). The company is expected to report results for the third-quarter on February 8, 2010.
Electronic Art, Inc. had anticipated sales of packaged goods to remain flat, but analysts note that sales of packaged goods were down 15% year-over-year in some countries. However, the digital business has exceeded company’s expectations.
Analysts have lowered the FY10 forecasts for revenue from $4.27 billion to $4.15 billion, and EPS from $0.73 to $0.46.
According to analysts, the company’s FY10 performance has been constrained by restructuring distraction for both management and employees, material reductions in planned titles, SKU’s, and R&D, a thin portfolio of Wii and DS titles, and greater economic uncertainty.
