A financial analyst predicted it Monday and today Electronic Arts confirmed it. The game publisher is suffering through lower-than-expected sales of its many games this fall and as a result EA said that "...it expects net revenue and earnings per share for fiscal year 2009 to be below the financial guidance previously provided on October 30, 2008."

While we will have to wait until EA's next official financial update in February 2009 to get specific numbers, the publisher confirmed that they plan to "...pursue cost saving initiatives including a reduction of its product portfolio for fiscal year 2010 with additional associated headcount reductions and facility consolidations." EA is holding a conference call for investors at the time of this news post and we will report in if there is any significant news from the call.

Update: EA execs have finished their conference call but company execs had little new info to share with analysts. They repeated that they plan to cut both games and team members for their future plans but would not go into specifics. They did say that some games have performed well sales-wise like Spore, Dead Space and Warhammer Online but strongly hinted that Mirror's Edge did not perform up to their expectations. However a sequel to the game is still planned.