Ubisoft reports annual loss for second year in a row

More financial news from one of the big publishers, as Ubisoft reveals that it has lost 52.1 million Euros ($74 million USD) for the financial year 2010-2011.
This follows a net loss of 43.6 million Euros ($62 million) for the 2009-2010 financial year. Prior to these two years of loss, however, Ubisoft reported a net profit of 68.9 million Euros ($98 million) and 109.8 million Euros ($156 million) in 2008-2009 and 2007-2008 respectively.
In addition, Ubisoft’s latest financial details divulge that sales for the company were up 19% overall, which suggests that the problem the company has is with development costs rather than shifting copies of games. But, then again, maybe they only sell so many copies because they blow a lot of money on marketing and development. It’s quite the business dilemma.
Yves Guillemot, CEO of Ubisoft, mentioned in the press release detailing the financial figures that “In the coming days, we will officially announce an ambitious project on PC based on one of our top gamer franchise … ” Which sounds quite exciting until you read the rest of his quote: “… that will illustrate our capacity to take advantage of new business models.” So, probably just some social networking nonsense, then.