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Take-Two posts losses, Spec Ops delayed, no GTA V date

Take-Two has released its results for Q3 of fiscal year 2012, and the firm has posted revenue of $236.3 million, compared to $334.3 million year-over-year when Red Dead Redemption was released. For the nine-month period ending December 31, 2011, revenue was $677.7 million, compared to $954.6 million for the same period last year, and losses of $41.7 million.

The firm said its figures were in line with its most recent financial outlook, due to the initial delay of Max Payne 3 into FY13 and a light release schedule.

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, as well as Borderlands and L.A. Noire.

The Red Dead franchise has sold-in over 13 million units worldwide, and L.A. Noire has sold-in nearly 5 million units worldwide since its launch. NBA 2K12 has sold-in nearly 4 million units to date, and Grand Theft Auto III for mobile and tablets running iOS and Android was the highest selling mobile offering to date.

"During the fiscal third quarter, we continued to execute strategically, creatively and operationally," said Strauss Zelnick, chairman and CEO. "We delivered results that were solidly within our
expectations, driven by strong holiday demand for NBA 2K12, our popular catalog titles and digital offerings.

"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."

Spec Ops: The Line will now be released during the first half of Fiscal '13, which would put it in stores sometime between March and September 2012, after previously being announced for a "spring" release.

A date was not revealed for GTA V in the financial release, but it is making "incredible progress" in development, according to the firm. Exact dates for Borderlands 2 and BioShock Infinite were not revealed either, but both are still on track for release in previously announced windows.

During the call to investors, Zelnick said the firm plans to continue to make content available on as many platforms as possible, and the long term success of the company will continue based on "proven strategies, and the strongest pipeline of games in the company's history."

According to the firm, FY13 will be "one of the best ever," and it has titles in the works for FY13 it "isn't ready to announce" just yet.

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Stephany Nunneley-Jackson

News Editor

Stephany is VG247’s News Editor. With a brain that lacks adhesive ducks, the ill-tempered, chaotic neutral fembot does her best to bring you the most interesting gaming news. She is also unofficially the site’s Lord of the Rings/Elder Scrolls Editor.

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