Take Two Profits $14.1m in the December 2011 Quarter - News
by VGChartz Staff , posted on 02 February 2012 / 4,015 Views
Take Two had announced at its September earnings briefing that the company expected revenue of $225m-$275m in the December 2011 quarter, with non-GAAP profit of 20-30 cents per share. Both projections were met, as the company reported $236m in revenue and a non-GAAP profit of 27 cents per share - about a $29m in profit. On a GAAP basis, profit was only - $14.1m.
In the December quarter of 2010, Take Two had profited $40.86m on $334.26m in revenue, so revenue and profit both declined compared to 2010. For the nine months to December 2010, Take Two had $954.62m in revenue with a profit of $70.51m, while in the same period of 2011, revenue came to only $677.74m with a loss of $41.98m.
Looking ahead, the company says revenue will be $112m-$162m in the March 2012 quarter, with a roughly $50-$65m loss on a non-GAAP basis. For the full year to March 2012 Take Two expects revenue of $790m-$840m, and a $60m-$75m loss.
In addition, the company says "Take-Two's future is extraordinarily promising. We have a proven strategy focused on building compelling interactive entertainment franchises, the strongest development pipeline in the Company's history, and ample resources to pursue our many growth opportunities. Fiscal 2013 is expected to be one of our best years ever, with substantial revenue growth and Non-GAAP net income in excess of $2.00 per diluted share [well over $200m in profit]. We are well positioned to continue to deliver growth and profitability over the long-term."
Take Two says "the strongest contributors to net revenue in the third quarter were the release of NBA 2K12; catalog sales led by the Grand Theft Auto franchise, Red Dead Redemption, Midnight Club Los Angeles and Borderlands; and continued sales of L.A. Noire. Digitally delivered content accounted for 11% of net revenue, driven by offerings for the Grand Theft Auto franchise - particularly the Grand Theft Auto III - 10th Anniversary Edition for iOS and Android, Red Dead Redemption, Borderlands and L.A. Noire."
Take Two lists the following highlights for its business performance:
- The Red Dead franchise has shipped over 13m units.
- LA Noire has shipped nearly 5m units.
- GTA III for mobile phones is the best selling Take Two game to date on mobile platforms.
- NBA 2k12 has shipped almost 4m units.
The company also provided a look at its revenue by platform for the quarter:
Q4 2011 Q4 2010
Total Revenue $236.33m $334.26m
X360 $89.80m $127.01m
PS3 $89.80m $123.68m
PC $21.27m $30.08m
Wii $9.45m $26.74m
PSP $7.09m $6.69m
DS $7.09m $13.37m
Other $7.09m n/a
PS2 $4.72m $6.69m
Overall revenue was down across the board for Take Two, falling $80m between X360, PS3, and PC, with the remaining $18m mostly on Wii as 'Other' and PSP had modest growth. 'Other' presumably includes, say, 3DS and smartphones - but it isn't clear from the data.
Contact VGChartz at jmazel@vgchartz.com
