"As a result of the positive first quarter developments and our strong pipeline we are raising our fiscal 2008 guidance today to 1.25 to 1.4 billion dollars in revenue." Gearbox's Borderlands, which has been pushed into the 2009 fiscal year for "better balance" in its release schedule. for many more points check the article out for full details as its alot easier than posting them individually and clogging up the forums :)
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Speaking during an a conference call with investors, Take-Two Chief Executive Officer Ben Feder has explained that while the means of distribution has changed, its GTA development policy has not. "Historically the franchise has been developed with initial multi-platform releases and then with incremental releases, in an array of ways. And I think we're following that here," said Feder.
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Wedbush Morgan's Michael Pachter suggests Take 2's strategy for 2009 won't pay big dividends in 2009 citing a potential over-reliance on sales of GTA:IV episodes as well as a back loaded catalogue. He estimates GTA:IV 360 has sold 7m copies and 5m of which are Live users. Even so, his take on it is that the addressable market for DLC is half that again, even with the DLC providing a boost to sales of the retail disc.
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"GTA IV is complete and in production; the trucks are set to begin shipments to retail. This is just one item of positive news that Take-Two's executives touted at their annual shareholder meeting. Hit the link for full coverage of what went down in the meeting."
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EA announced an amendment to its tender offer issued to T2 stockholders. A new condition requires either "that Take-Two's Board of Directors redeem the preferred stock purchase rights issued as a result of Take-Two's adoption on March 24 of the stockholder rights plan," or "that EA be satisfied that such rights have been invalidated or are otherwise inapplicable to its acquisition of Take-Two." EA also extended said offer to 12PM NYC time on April 18th. The previous deadline was April 11th.
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Ending January 31, 2008, the quarter saw a net loss of $38 million, a $16.5 million increase compared to the previous year's $21.5 million loss for the same quarter. Net revenue for the three-month period was $240.4 million, a decrease from $277.3 million gained during the opening quarter of fiscal 2007.
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Take-Two Interactive Software announced Wednesday that the Securities and Exchange Commission may file charges and seek monetary penalties against the game maker, in connection with the investigation into the company's stock option granting practices.
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Take-Two has reported a net loss of USD 50.4 million for the three months ended January 31, 2009, up from the USD 38 million loss for the same period in 2008. Revenues for the first fiscal quarter were up 7 per cent from USD 240.4 million to USD 256.8 million, but the losses were blamed on high marketing, legal, and research and development expenses.
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Hedge fund SAC Capital has reported that it now owns a 5.3 per cent stake in Take Two. The firm said in an SEC that it had acquired 4.1 million shares, worth about $108 million, for investment purposes.
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Take-Two Interactive Software has announced a new initiative that will see it expand into the "rapidly growing" Asia Pacific region. To this end they have secured the services of one Mr. Hubert Larenaudie, who will assume the position of President for Asia and set up an office in a ridiculously tall Singapore building. Larenaudie previously acted as President of Asia Online for EA, and before that, held a similar role at Vivendi Universal Games.
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