I'm not economics expert, but didn't they actually make a profit but defer some revenue to make it a loss? I could well be wrong though :).
It's a nice turn around, but they need to build n this momentum. For all they've done wrong it does to me look like they're slowly building a decent portfolio of games - albeit I don't think we're going to see them trying much more new outside of a sequel to Mirrors Edge.
Certainly slashed their expenditure anyway.