Take-Two Losses Increase to $66.8 Million in Its 4th Quarter 2012 - News
by William D'Angelo , posted on 23 May 2012 / 6,069 Views
Take-Two Interactive Software, Inc. has reported on its results for the fourth quarter if its fiscal year 2012, which ended on March 31, 2012. Net revenue reached $148.1 million, down from $182.3 million for the fourth quarter 2011. Its GAAP losses increased to $66.0 million, compared to $22.4 for the same quarter a year ago. Non-GAAP net loss was at $50.9 million, up from $14.4 million last year.
For the entire 2012 fiscal year net revenue was $825.8 million, compared to $1,136.9 million for the previous fiscal year. GAAP Losses reached $107.7 million, compared to profits of $53.8 for the same period a year ago. Non-GAAP losses was at $59.4 million, compared to $94.3 million in profits for the prior fiscal year.
"Fiscal 2012 was a year of creative, operational and strategic achievement by our Company," said Strauss Zelnick, Chairman and CEO of Take-Two. "We delivered groundbreaking titles, including L.A. Noire and NBA 2K12, which set new standards for excellence; grew our revenue from digitally delivered content and mobile offerings; made substantial progress on our online gaming initiatives; and bolstered our already strong liquidity through a convertible notes offering. While our financial results were disappointing, the decisions we made position Take-Two for growth and profitability both this year and over the long-term."
Looking forward to Take-Two's 2013 fiscal year, Zelnick said it "kicked off with the successful launch of Max Payne 3, which received outstanding reviews and promises to be another hit for Rockstar Games. We have a fantastic lineup of upcoming releases for the balance of the year and the strongest development pipeline in the Company's history."
For the fiscal year 2013, Take-Two expects net revenue to more than double, up to $1.75 billion to $1.85 billion. The company is expected to return to the black.
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GTA 5, Bioshock Infinity, X-Com and probably more. A big year for Take-Two.
I find it difficult to believe their revenue would doubles like they hope.
How about now? Haha
I don't see them hitting those numbers even with GTA V being a very likely release in FY 2013. Their release list going forward looks pretty barren, mostly leaning on Max Payne 3 DLC and, well, GTA V. I'd be shocked if they cleared $1.5 billion.
How do you feel about this comment now? A year and a half later and they past the 1.5 billion mark.
Actually they predict a little more than returning to the black.
They are predicting their best year this gen by far
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