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Take-Two swings to full-year profit, retains Housers

Tuesday, 24th May 2011 21:17 GMT By Stephany Nunneley

Take-Two has announced solid results for its Q4 and fiscal year, and has extended its long-term agreement with Rockstar’s bosses and a management agreement with ZelnickMedia.

Take-Two FY11 – highlights

Rockstar heads Sam and Dan Houser and Leslie Benzies have signed extended contracts.

Rockstar “thrilled” with the launch of LA Noire, but no sales figures were given.

Red Dead Redemption has sold over 8.5 million units; NBA 2K series has moved over 5 million.

XCOM was dated for FY2012, and Spec Ops: The Line will release in the first-half of 2013.

Full year profit was up to $53.8 million compared to a $108.1 million loss in the year prior.

Net revenue grew 49 percent year-over-year to $1.14 billion.

Profit was well up for the year ended March 31, standing at $53.8 million compared to a $108.1 million loss in the same period a year ago.

Net revenue grew 49 percent year-over-year to $1.14 billion.

Digital revenue was up year-over-year by $102 million, which accounted for 15 percent of the company’s net revenue in the fourth quarter, driven by strong sales of Red Dead Redemption, the Grand Theft Auto franchise, Borderlands and the Sid Meier’s Civilization franchise.

Fourth quarter revenue, however, was down to $182.3 million, as compared to $233.2 million for the year-ago period.

Loss for the quarter was $22.4 million, compared to $9.7 million for the year-ago period.

The strongest contributors to net revenue in the fourth quarter this year included NBA 2K11, Top Spin 4, Major League Baseball 2K11, GTA IV: Complete, Red Dead Redemption, and the disc version of Red Dead Redemption: Undead Nightmare.

Take-Two also announced that Red Dead Redemption has sold over 8.5 million units since launch and the NBA 2K series has moved over 5 million.

Games expected for the firm’s upcoming fiscal year include:

  • Duke Nukem Forever on June 10
  • Nicktoons MLB for summer
  • The Darkness II on October 4
  • XCOM during FY2012
  • NBA 2K and MLB 2K FY 2012
  • BioShock: Infinite for calender 2012
  • Spec Ops: The Line for the first-half of 2013

Max Payne 3 and Agent are also still both in development, but nothing further was added regarding the two titles.

The firm is also working with online developers to bring its sports titles to the Asian market, and is working on bringing two of its other franchises to the online market in that region.

It is also “thrilled” with the launch of LA Noire, but is not ready to hand out numbers for it yet, but it is “selling strong.” Take-Two head Strauss Zelnick did, however, state that he had “every reason to believe” that LA Noire will be another strong franchise for the firm and that it expects to make a profit from both the Team Bondi title and Duke Nukem Forever in its next fiscal quarter.

The PSN outage also had no impact on the firm as the online portion of the service was back up when L.A. Noire was released, according to the firm. In terms of working with external devs again, Rockstar will look at it on a “case-by-case basis.”

As far as the geographic revenue mix for the firm was concerned, for the three months ending March 31:

  • North America – 71 percent
  • International – 29 percent

And the split by platform:

  • Xbox 360 – 46 percent
  • PlayStation 3 – 32 percent
  • PC – 7 percent
  • Nintendo Wii – 7 percent
  • PSP – 3 percent
  • PlayStation 2 – 2 percent
  • Nintendo DS – 3 percent

For the twelve months ending on March 31, the geographic revenue mix was as follows:

  • North America – 61 percent
  • International – 39 percent

And the split by platform:

  • Xbox 360- 40 percent
  • PlayStation 3 – 39 percent
  • PC – 9 percent
  • Nintendo Wii – 5 percent
  • PSP – 2 percent
  • PlayStation 2 – 2 percent
  • Nintendo DS – 3 percent

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11 Comments

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  1. Razor

    Why would the Houser’s ever leave anyway?

    #1 3 years ago
  2. Johnny Cullen

    Even still, it’s a big win for Take Two and Rockstar. There’s always gotta be some sort of paranoia inside T2 when Sam, Dan and Benzies’ contracts are about to expire.

    #2 3 years ago
  3. Razor

    Someone on the conference call had better ask about Agent :D

    #3 3 years ago
  4. Johnny Cullen

    With E3 around the corner, someone will be bound to ask that.

    #4 3 years ago
  5. Razor

    Response will be interesting though. “no comment” “still in development” “nothing to share at the moment”.

    At least give us a clue what’s going on with it.

    #5 3 years ago
  6. Johnny Cullen

    I hope Strauss, if asked about GTA V, gives the same line he did a couple of years ago:

    “We’re not going to announce it. We’re not going to announce when we’re going to announce it. And we’re not going to announce the strategy about announcing it or about when we’re going to announce it either, or about the announcement strategy surrounding the announcement of the strategy.”

    #6 3 years ago
  7. Razor

    Yeah, that was class :D

    #7 3 years ago
  8. Stephany Nunneley

    @6 Which is one of the main reasons I have always loved Strauss.

    #8 3 years ago
  9. JRNO

    R* just wouldn’t be the same without Housers.

    #9 3 years ago
  10. nofear360

    Spec Ops: The Line set for first half of 2013?! I don’t care for the game, but still, that’s quite a delay!

    #10 3 years ago
  11. nofear360

    Edit: I just checked IGN and Spec Ops has been delayed into 2012, not 2013. I misunderstood it for the calendar year.

    #11 3 years ago