Take-Two Interactive Reports Weak First Quarter and Strong Fiscal Year

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Take-Two InteractiveTake-Two Interactive released its financial results for its fiscal fourth quarter and fiscal year ended October 31, 2008.
For the quarter, Take-Two Interactive reported a net loss of $14.954 million (compared to a net loss of $7.063 million in the same quarter the previous year). For the year, the company reported net income of $97.097 million (compared to a net loss of $138.406 million in the previous year).

Take-Two Interactive's costs in the fourth quarter included $5.6 million in professional and legal fees (presumably, much of that related to the failed acquisition attempt by EA), $1.6 million in business reorganization costs and stock-based compensation expenses that nearly doubled from the previous year to $9.3 million.

The company's full-year performance was so strong largely because of Grand Theft Auto IV, although other games, including the Carnival Games franchise and catalog sales contributed.

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