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