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| Andrew Strauss |
Tillakaratne Dilshan and Upul Tharanga hit centuries as the home side cruised to a 10-wicket victory in Colombo.
"Our cricket hasn't been good enough throughout the tournament, that's why we're going home," said Strauss.
"We showed a lot of resolve and spirit to win some tight games but in the end we weren't good enough."
England lost to Ireland and Bangladesh in the group stages before sealing a quarter-final place with a narrow victory over West Indies.
But they managed only 229-6 batting first at the R Premadasa Stadium before Dilshan and Tharanga chased down the total with 63 balls to spare.
It was only the fifth time England had lost a 50-over international by 10 wickets - and the third against Sri Lanka - and provided a disappointing end to a winter that began magnificently with the Ashes series win in Australia.
"I think we probably thought our total was 30 light and in the end it was 50 light," said Strauss.
"We didn't get off to a good start, lost a couple of early wickets, had a reasonable middle but weren't able to accelerate at the end.
"Fair play to Sri Lanka, Dilshan and Tharanga played beautifully. We tried a lot of things but couldn't get break through."
Strauss refused to blame a long winter schedule for England's disappointing World Cup, despite the fact some of England's team have been away from home since October.
"It's a huge amount to ask players to tour Australia for three months, playing as high intensity cricket as you can get, and then go to a World Cup without spending time at home," he said.
"The scheduling hasn't been good, but that's not an excuse, you've still got to go out and play.
"Lessons have been learnt [England will not play an Ashes series and a World Cup in the same year in the future] and the cycle is changing. Although it would have been better if that had been the case before.
"But I can't fault the energy and commitment and desire of the guys. They tried their hardest but weren't allowed to play by a very good side.
"There was not enough quality in our side, that's the reality and that's what we'll have to address when we get home.
"When you look at the sides doing well at this World Cup they have a lot of variety in their bowling and players who score hundreds and we haven't got that. They're the hard facts."
Despite another poor World Cup campaign, Strauss added that he hoped to continue as one-day captain.
"As is always the case at the end of a World Cup we will sit down, regroup and talk about what the best way forward is," he said.
Sources: http://news.bbc.co.uk
