May 13 (Bloomberg) -- Electronic Arts Inc., the world's largest video-game maker, reported a wider fourth-quarter loss as the company spent more to develop new titles. The company's forecast for fiscal 2009 disappointed some investors.

The loss of $94 million, or 30 cents a share, compared with a loss of $25 million, or 8 cents, a year earlier, the company said today in a statement. Excluding some costs, Electronic Arts had a profit of 9 cents, beating the average breakeven estimate of 14 analysts surveyed by Bloomberg. Sales rose 84 percent.

Chief Executive Officer John Riccitiello increased on game development by 23 percent to $316 million. The company also had costs from acquisitions including the BioWare and Pandemic studios. Profit this year will be $1.30 to $1.70 a share, the company said. Analysts expect $1.70, the average of 16 estimates.

``Their revenue guidance is great. Their earnings guidance is not,'' said Michael Pachter, an analyst at Wedbush Morgan Securities in Los Angeles, who recommends the shares and doesn't own them. ``You'd want to see a much higher earnings number.''

Profit for the first half of fiscal 2009 probably will miss analysts' estimates, Chief Financial Officer Eric Brown said on a conference call. More of the games expected to be big hits, including ``Spore,'' will be released later in the year. Neither Riccitiello nor Brown provided a specific forecast.

Forecast

Electronic Arts fell $2.02, or 3.7 percent, $52.55 after hours. Shares of the Redwood City, California-based company gained 30 cents to $54.57 at 4 p.m. New York time in Nasdaq Stock Market trading and have declined 6.6 percent this year.

For the fiscal year ending next March, Electronic Arts forecasts sales of $4.9 billion to $5.15 billion. Analysts projected revenue of $4.56 billion.

The company will no longer provide forecasts for quarterly sales and profit because of potential changes in release dates that can alter performance, Brown said on the call. Annual forecasts will be updated on a quarterly basis, he said.

Sales of $1.13 billion for the quarter ended March 31 exceeded the $841.8 million average of 20 analysts' estimates compiled by Bloomberg. Revenue rose on demand for ``Rock Band,'' ``Army of Two'' and ``Burnout Paradise.'' Electronic Arts shares the profit from ``Rock Band,'' which is co-owned by Viacom Inc.

Acquisitions added 800 people to the company's research and development staff, Brown said in an interview. The company also listed acquisition-related costs of $138 million.

Take-Two Offer

Electronic Arts is trying to buy Take-Two Interactive Software Inc., the maker of the top-selling ``Grand Theft Auto'' games. The company's hostile $2 billion, $25.74-a-share, tender offer expires May 16. Take-Two management has resisted the bid, saying the company is worth more. Electronic Arts said on May 9 it arranged $1 billion in loans to help pay for the acquisition.

Take-Two's ``Grand Theft Auto IV,'' released on April 29, generated a record $500 million in retail sales its first week in stores, surpassing the $300 million benchmark set last September by Microsoft Corp.'s ``Halo 3.''

Sales were consistent with what Electronic Arts expected when it made the offer, Riccitiello said on a conference call.

``It's a spectacular game,'' Riccitiello said. ``I enjoy playing it.''

To contact the reporter on this story: Michael White in Los Angeles at mwhite8@bloomberg.net.

Last Updated: May 13, 2008 19:07 EDT