Take-Two Announces $55 Million Quarterly Loss and $20 Million Class Action Settlement

| | Comments (0)
Take-Two InteractiveTake-Two Interactive announced the financial results for its fiscal third quarter ended July 31, 2009. The company also announced that it has settled a securities-related class action lawsuit:
For its third quarter, the company announced a net loss of $55.473 million, compared to net income in the same quarter the previous year of $51.826 million.


Take-Two Interactive also announced that it has settled its pending securities class action lawsuit. To get the lawsuit dismissed, the company has agreed to pay $20.115 million into a settlement fund. Of that payment, $15.2 million will be paid by Take-Two's insurance provider and the company will have to pay $4.915 million. Take-Two will also have to make additional changes to its corporate governance policies.

69% of the company's revenues came from publishing operations, with the remainder coming from distribution operations, and North American operations provided 74% of revenues. By platform, Xbox 360 sales provided 32% of publishing revenues, Wii sales contributed 16% and PC sales contributed 14% with other platforms contributing the remainder.

Leave a comment

About this Entry

This page contains a single entry by Editor published on September 1, 2009 1:49 PM.

Sales-Motivated Tetris Study Claims Tetris Improves Brain Function was the previous entry.

Soul Calibur: Broken Destiny Available for the PSP is the next entry.

Find recent content on the main index or look in the archives to find all content.

 

Add to Technorati Favorites