Tag Archives: take-two Q4 financials 2008

They’re not that stupid, these trading types. Take-Two’s stock has crashed 21 percent on the back of last night’s Q4 financial release, down to $9.56 in extended NASDAQ trading.

The firm said last night that losses had doubled for the three months ending October 31, down to $15 million.

Take-Two Chairman Strauss Zelnick told Reuters the company “witnessed significant softness” in retail sales.

Where’s your EA cash gone, Strauss?

More through the link.

Speaking in an earnings call following the release of full-year financials last night, Take-Two CEO Ben Feder said the firm was taking a harder look as which mature games could be brought to Wii.

“We believe we’ll continue to benefit from the growing install base of the Nintendo Wii,” said Feder. “Our relationship with Nintendo has never been stronger,” he added, calling it a “great foundation on which to build.”

“Even some of the M-rated content that we think is much more appropriate for the [Xbox] 360 or the PS3… we have to look at the Wii as a viable platform, because we can’t ignore that install base,” Feder said. “We just can’t.”

Wii’s Carnival Games was picked out as a hot title the company in 2008.

More on Gamasutra.

Seeking Alpha’s posted the entire transcript of Take-Two’s full-year earnings call last night, but it looks as though the bombshells were few and far between from a good look around this morning.

Strauss and the rest of the kids, as ever though, are good fun to read. Settle in with your coffee. It’s not as though you have anything better to do.

Speaking in a conference call following the release of full-year financials yesterday, Take-Two execs confirmed that GTA as a franchise has been responsible for almost half the entire company’s revenue for the year.

The property took $710 million this year, compared to entire publisher revenue of $1,537.5 million for fiscal 2008.

The figure amounts to roughly 60 percent of Take-Two’s total publishing sales.

Take-Two’s revenues pushed up to $323.4 million in its fourth quarter, compared to $292.6 million in the same period in 2007, the company confirmed last night.

Losses double, up to $15 million from $7.1 million last year.

The firm’s full year was more spectacular. For th 12 months ending October 31, revenues hit $1,537.5 million, up from $981.8 million in fiscal 2007.

There was profit for the year, a record $97.1 million or $1.28 per share, compared to a net loss of $138.4 million or $1.93 per share last year.

Full thing here.

Take-Two’s resigned Rockstar’s big bosses into contracts lasting to 2012, with the new agreements involving elements of profit-sharing.

Sam Houser, Dan Houser and Leslie Benzies have all inked the new deal.

Unsurprisingly, the publisher has also agreed to fund future GTA games.

“The entire Rockstar team has always been dedicated to making groundbreaking games with unprecedented production values, style and depth,” said Sam Houser.

“We are excited to continue our partnership with the new management team at Take-Two, who have helped us to protect the unique atmosphere that fosters creativity and innovation.”

The news came as part of Take-Two’s fourth quarter financials announcement.

Press release after the link.

More »

Take-Two will release its Q4 and year-end financial results on December 17.

The following conference call will be held at 4.30pm EST. To get involved, dial (877) 407-0984 or (201) 689-8577.

A live, listen-only webcast of the call will be available at http://ir.take2games.com.

Don’t miss it. They’ll talk about BioShock 2 and the internet’ll melt.