Ubisoft posts $74M net losses, cancels games

Ubisoft has published its financial results for the fiscal year ending March 31, 2011. The company reported a net loss of 52.1 million euros (approximately $74 million) for the period, despite a 19% increase in sales to 1.039 billion euros ($1.47 billion).

The company credited the sales uptick to the continued success of the Just Dance games, hopping on-board the Kinect and 3DS launches, and Assassin's Creed Brotherhood. It seems like Ezio is a pretty safe sales bet, which might explain Assassin's Creed Revelations.

For next year, the company is expecting to "post further growth in both sales and current operating income." That apparently means trimming some fat from its game line-up, though, as the company has terminated some unspecified projects. We may not know which games received the dreaded axe for some time, but the long-dormant I Am Alive and Beyond Good & Evil 2 seem like prime suspects.