Following the company's fourth-quarter results (in which sales increased 37 percent), French publisher Ubisoft today announced record net income for the fiscal year ended March 31. Ubisoft posted 40.5 million euros ($54.60 million) in net income, a huge increase compared to the 11.9 million euros ($16.06 million) from the previous fiscal year. Total sales were also up more than 24 percent to 680.3 million euros ($917.14 million).
Gross profit increased 91.7 million euros to 452.4 million euros ($609.90 million), representing 66.5 percent of sales, which compares favorably to 65.9 percent during the last year. "This rise was fueled by sales of new generation games (74% gross margin), which accounted for 60% of the total sales figure," Ubisoft explained in a release. "The contribution of these games offset the expected decreasing margins of old generation games (56% margin), as well as the impact from growing distribution activities and back-catalog sales, which traditionally generate lower margins."