Ubisoft Reports Larger Annual Loss

For its full fiscal year ended March 31, 2011, Ubisoft reported a net loss of €52.1 million (around $74 million), compared to a net loss of €43.7 million in the previous fiscal year.

Ubisoft's Chief Executive Officer Yves Guillemot tried to put a positive spin on the larger loss, pointing to higher revenues. In part, the greater loss was due to increased research and development costs and substantial reorganization costs.