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Take-Two
Interactive Software Inc
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Nasdaq:
TTWO
Take-Two
is headquartered in New York City, with its international headquarters
based in Geneva. The Company has development studios in Edinburgh, San
Diego, Vancouver, Toronto, Leeds (England), London, Novato (California),
Quincy (Massachusetts), Hunt Valley (Maryland), Canberra (Australia), Camarillo
(California), Bellevue (Washington), Gateshead (England), Shanghai, and
Paris; product testing studios in Lincoln (England), Northridge (California),
and New York; sales and marketing offices in New York, Geneva, London,
Paris, Munich, Madrid, Milan, Sydney, Breda (Netherlands), and Albany (New
Zealand); and distribution facilities in West Chester (Ohio) and Mississauga
(Canada).
http://ir.take2games.com
Take-Two
Interactive Software, Inc. Reports Strong Second Quarter Fiscal 2008 Financial
Results
NEW
YORK--(BUSINESS WIRE)--Take-Two Interactive Software, Inc. (NASDAQ:TTWO
- News) today announced financial results for its second quarter ended
April 30, 2008.
Net
revenue for the second fiscal quarter was $539.8 million, compared to $205.4
million for the same quarter of fiscal 2007. Second quarter sales were
led by the blockbuster, critically acclaimed Grand Theft Auto IV for Xbox
360® video game and entertainment system and PLAYSTATION®3 computer
entertainment system.
Net
income for the second quarter was $98.2 million or $1.29 per share, compared
to a net loss of $51.2 million or $0.71 per share in the second quarter
of fiscal 2007.
The
second quarter results include $12.4 million in stock-based compensation
expense ($0.16 per share); $3.8 million in professional fees and legal
expenses, primarily related to Electronic Arts' unsolicited tender offer
($0.05 per share) and $0.9 million in business reorganization costs ($0.01
per share). Results for the second quarter of 2007 included $16.3 million
of business reorganization and related costs due to the Company's management
and board changes, legal expenses and other professional fees associated
with the investigation of stock option grants, responses to the New York
County District Attorney's subpoenas, and other legal matters ($0.22 per
share), as well as $5.8 million in stock-based compensation expense ($0.08
per share).
Non-GAAP
net income was $115.4 million or $1.52 per share in the second quarter,
compared to a net loss of $29.2 million or $0.41 per share in the second
quarter of 2007. (Please refer to Non-GAAP Financial Measures and reconciliation
tables included later in this release for additional information and details
on non-GAAP items.)
For
the six months ended April 30, 2008, net revenues were $780.3 million,
compared to $482.8 million for the same period a year ago. Net income for
the first half of fiscal 2008 was $60.2 million or $0.80 per share, compared
to a loss of $72.8 million or $1.02 for the 2007 period. Results for the
first six months of fiscal 2008 include $18.5 million in stock-based compensation
expense ($0.25 per share); $5.3 million in professional fees and legal
expenses, with the majority related to Electronic Arts' unsolicited tender
offer ($0.07 per share) and $1.1 million in business reorganization costs
($0.01 per share). Results for the first six months of fiscal 2007 included
$23.5 million of business reorganization and related costs due to the Company's
management and board changes, legal expenses and other professional fees
associated with the investigation of stock option grants, responses to
the New York County District Attorney's subpoenas, and other legal matters
($0.33 per share), as well as $9.8 million in stock-based compensation
expense ($0.14 per share).
Non-GAAP
net income was $85.1 million or $1.14 per share in the first six months
of 2008, versus a net loss of $39.5 million or $0.55 per share in the comparable
period of 2007. (Please refer to Non-GAAP Financial Measures and reconciliation
information included later in this release.)
Business
Highlights
Among
the significant recent business developments, Take-Two noted the following:
Rockstar
Games released the highly anticipated Grand Theft Auto IV on April 29,
2008. The title surpassed all-time entertainment records for day one and
week one sales, with approximately 6 million units sold through globally
in the first week at an estimated retail value of more than $500 million.
As of May 31, 2008, over 11 million units have been sold in to retailers
and approximately 8.5 million units have been sold through to consumers.
BioShock®,
a wholly owned and internally developed title for Xbox 360 and Games for
Windows® shipped over 2.2 million units since its debut in late August.
2K Games will be bringing this popular title to the PLAYSTATION®3 this
fall, and Universal Pictures is developing a feature film based on BioShock
to be directed by Gore Verbinski, director of the Pirates of the Caribbean
trilogy.
Rockstar
Games announced the acquisition of Mad Doc Software, one of the premier
independent development studios in North America. The studio, renamed Rockstar
New England, most recently worked with Rockstar on the Xbox 360 version
of the critically acclaimed Bully: Scholarship Edition.
Hubert
Larenaudie was named President for Asia to head Take-Two's growth initiatives
in the Asia Pacific region including expanding distribution of the Company's
interactive entertainment products; developing a strong presence in Japan;
and working to establish an online game operation, especially in China
and Korea. He had previously served in senior roles at Electronic Arts
and Vivendi.
Take-Two
Interactive Software, Inc. to Report Second Quarter Fiscal 2008 Results
on Thursday, June 5, 2008
New
York, NY – May 29, 2008 – Take-Two Interactive Software, Inc. (NASDAQ:
TTWO) announced today that it will report financial results for the second
quarter ended April 30, 2008 on Thursday, June 5, 2008 after the market
close. A conference call to discuss the results will be held at 4:30 p.m.
Eastern Time and can be accessed by dialing (877) 407-0984 or (201) 689-8577.
A live listen-only webcast of the call will be available by visiting http://ir.take2games.com
and a replay will be available following the call at the same location.
11.03.2008
Take-Two Interactive Software, Inc. Reports First Quarter Fiscal 2008 Financial
Results
Top
and Bottom Line Results Exceed Guidance
Company
Raises Fiscal 2008 Guidance and Provides Second Quarter Guidance
New
York, NY – March 11, 2008 – Take-Two Interactive Software, Inc. (NASDAQ:TTWO)
today announced financial results for its first quarter ended January 31,
2008.
Net
revenue for the first quarter was $240.4 million, compared to $277.3 million
for the same quarter of fiscal 2007, which benefited from more new game
releases in last year's holiday season. First quarter sales were led by
BioShock, Carnival Games™, NBA 2K8, Grand Theft Auto catalog titles, and
the release of Grand Theft Auto: Vice City Stories in Japan. Distribution
revenue rose year over year, fueled by the strength of next generation
software and hardware sales, including robust demand for Wii™ products.
Net
loss for the first quarter was $38.0 million or $0.52 per share, compared
to a net loss of $21.5 million or $0.30 per share in the first quarter
of fiscal 2007.
The
first quarter results include $6.1 million in stock-based compensation
expense ($0.08 per share); and $1.7 million in expenses related to unusual
legal matters and business reorganization costs ($0.02 per share). Results
for the first quarter of 2007 included $4.0 million in stock-based compensation
expense ($0.06 per share); and $7.2 million in expenses related to unusual
legal matters ($0.10 per share).
Non-GAAP
net loss was $30.3 million or $0.41 per share in the first quarter, compared
to a net loss of $10.3 million or $0.14 per share in the first quarter
of 2007. (Please refer to Non-GAAP Financial Measures and reconciliation
tables included later in this release for additional information and details
on non-GAAP items.)
Business
Highlights
Among
the significant recent business developments, Take-Two noted the following:
--
Rockstar Games announced a worldwide release date of April 29, 2008 for
the highly anticipated Grand Theft Auto IV.
--
2K Games said today that BioShock 2, the sequel to the wholly owned and
internally developed title, is being developed by 2K Marin and is planned
for release in the fourth quarter of fiscal 2009. The critically acclaimed
BioShock title has sold over 2 million units worldwide since its launch
in August.
--
Carnival Games, a wholly owned and internally developed title for the Wii™,
shipped over 1 million units since its debut in late August. 2K Play will
be bringing this popular title to the Nintendo DS™ this summer.
--
2K Play announced today that Carnival Games: Mini-Golf™, a brand extension
of the Carnival Games franchise, is coming exclusively to the Wii this
fall.
--
2K announced the acquisition of Illusion Softworks, the creator and owner
of several hit video game franchises, including Mafia, Hidden & Dangerous
and Vietcong. Renamed 2K Czech, the Czech Republic based studio is currently
developing Mafia II for next generation consoles and Games for Windows®. |
