Ubisoft has announced a €78 million operating loss, in line with expectations, as part of its financial results for the six month period that ended September 30, 2009.

The operating loss has been attributed to a €130.5 million decrease in gross profit and a €14.5 million reduction in R&D expenses “due to a smaller number of games launches.”

Yves Guillemot, Chief Executive Officer, explained, "First week sales of Assassin’s Creed II, up 32 per cent, with positive initial indications for the second week, combined with an overwhelmingly warm reception from gamers, validates our strategy of developing bigger franchises. Based on this initial data, Assassin’s Creed 2 looks well positioned to outstrip targets while our Wii games have got off to a more contrasted start in a less predictable market. Finally, sales of James Cameron’s Avatar: The Game should benefit from the launch of the movie which is expected to be the biggest blockbuster of this holiday season."



The company also confirmed its targets for 2010 which are third-quarter sales of “around €540 million” with full-year sales of approximately €1,040 million and current operating income before stock-based compensation representing at least 7 per cent of sales. You can find the full set of results here.