Take-Two Interactive Reports Large Annual Loss

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Take Two InteractiveTake-Two Interactive announced the results of its fiscal year and fourth quarter ended March 31, 2012. The year didn't go so well, but Take-Two hopes the future will prove brighter. Read on for more details...
For Take-Two's fiscal year ended March 31, 2012, the company announced a net loss of $108.816 million, compared to net profits of $48.458 million in the previous year. For Take-Two's fourth quarter ended March 31, 2012, the company announced a net loss of $66.836 million compared to a net loss of $22.054 million in the same quarter the prior year.

Apparently, the big problem with the latest financial year is that it didn't include a lot sales of Red Dead Redemption (while past years did). The biggest contributors to sales in the current year were L.A. Noire, NBA 2K12, and older games such as the Grand Theft Auto franchise and a little Red Dead Redemption.

Chairman and Chief Executive Officer Strauss Zelnick stated, "While our financial results were disappointing, the decisions we made position Take-Two for growth and profitability both this year and over the long-term." In other words, 'We did badly, but we'll do better next time.'

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This page contains a single entry by Editor published on May 22, 2012 5:16 PM.

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