Take-Two has released its financial report for its fiscal fourth quarter 2013 and its full fiscal year sales, which ended March 31, 2013. Revenue for the quarter reached $299.5 million, double the $148.1 million that was posted a year ago. The company posted a profit of $22.5 million, up from a loss of $66.8 million.
For the full fiscal year, revenue jumped to $1.21 billion, from $825.8 million. Despite the increase in sales, Take-Two posted a loss of $29.49 million, though this is an improvement over a loss of $108.8 million the prior year.
Take-Two chairman and CEO Strauss Zelnick, in the investors conference call, announced that BioShock Infinite has shipped 3.7 million units to date, while Borderlands 2 has shipped more than six million units. Also NBA 2K13 has shipped more than five million units.
Take-Two has stated that its digital sales have continued to grow at a rapid pace with revenue up 192 percent year-over-year. Digital sales also accounted for 27 percent of the total Non-GAAP revenue. Digital sales were driven by Borderlands 2, BioShock Infinite, NBA 2K13 and the Grand Theft Auto franchise.
"With BioShock Infinite, Borderlands 2, NBA 2K13 and XCOM: Enemy Unknown, our 2K label released four of the past year’s most critically acclaimed titles," said Strauss Zelnick, Chairman and CEO of Take-Two. "Our commitment to delight consumers with the highest-quality interactive entertainment experiences enabled Take-Two to have an outstanding year, despite a challenging environment for many in our industry."
"2013 is the 20th anniversary of Take-Two’s founding and, today, our Company is better positioned for success than at any other time in its history," added Zelnick. "With Rockstar Games launching Grand Theft Auto V in September, fiscal 2014 is poised to be one of our best years ever. Looking ahead, we have an extensive pipeline of next-generation and emerging platform titles in development, including both new intellectual property and releases from our proven franchises."
Take-Two has also released its forecast for the first quarter of its 2014 fiscal year, which ends June 30, 2013, as well as full 2014 fiscal year, which ends March 31, 2014. For the first quarter 2014, Take-Two expects revenue to be between $100 million and $125 million. For the full fiscal year, Take-Two expects revenue to be between $1.75 billion and $1.85 billion. This is roughly a 50 percent increase year-over-year.