Yesterday, Electronic Arts reported its annual results, posting a net loss of $677 million for the year ended March 31, 2010. While that was a substantial improvement over the $1.09 billion loss it posted for the previous year, it wasn't enough to please investors.

Electronic Arts has a lot going for it, but analysts are starting to tire of its inability to capitalize.

EA shares exchanged hands at more than three times the daily average today, with the sell-off driving the price of the publisher's stocks down nearly 6 percent, shedding $1.09 to close Tuesday's trading at $17.71.

Some analysts were similarly unsatisfied with the publisher's report, but more for its forecast for the coming year (between $0.85 and $1.15 per share) than its latest losses. FBR Capital Markets released a note to investors today, noting that EA "continues to struggle to build the kind of margin expanding franchises necessary to really build the bottom line…In order to meet its targets for the year, the company is going to have to see stronger results in efforts to launch/relaunch franchises like Medal of Honor, Dragon Age, and Dead Space against an extremely competitive environment."

Wedbush analyst Michael Pachter was more upbeat on Electronic Arts, maintaining his "Outperform" rating on the stock and suggesting its forecast for the coming year was "realistically conservative." However, he stated in no uncertain terms that he has misjudged EA's prospects before.

"We have been wrong about this stock for almost five years," Pachter wrote. "Either we're stupid, stubborn, or unlucky, but we've been wrong. The definition of insanity is doing the same thing over and over again, each time hoping for a different result. This time, while we are again hoping for a different result, EA's Q4 report provided some evidence that the company is not doing the same things over and over again: lower headcount in cheaper locations, fewer facilities, fewer games, and a growing digital business. This time, we think that EA is on the right path."