Ubisoft profits up 18% for 2008-09; plans to expand on quality

Today, Ubisoft released its results for the fiscal year ended March 31, showing sales up 14 percent and a net income of $95.8 million (€68.8 million).

Full year 2008-2009 sales came in at $1.4 billion (€1.05 billion), up 18.4 percent.

"Ubisoft ended fiscal 2008-09 with full-year sales growth of 18.4 percent at constant exchange rates, the second best profitability among comparable companies in its industry, and a 5.1 percent rise in net income excluding non-recurring items and before stock-based compensation," said CEO Yves Guillemot in a statement.

"This performance illustrates Ubisoft’s unique business model with cost-competitive development studios and some of the most talented developers in the industry. It enables the Group to be at the leading edge of innovation and offer superior quality games, while maintaining a high level of profitability."

Casual games accounted for 31.9 percent of sales with the distribution end claiming 7.6 percent and a rise in gross profit for the company of $37.4 million (€26.8 million).

Investments increased by 84 million, along with the acquisition of five development studios and the hiring of 1,300 staffers, which Guillemot said will move the company towards higher quality games.

This includes the expansion of the Shawn White Snowboarding series with the release of World Stage in time for the holidays, and a bigger-badder Assassin's Creed, which cost the company 20 percent more than the previous iteration.