NEWS - Friday, December 19, 2003


Take-Two Reports Q4 Results

In the fourth quarter ending October 31, 2003, net sales were $278.5 million, a 28 percent gain over the $218.4 million in the same period a year earlier. Net income was $26.6 million ($0.59 per diluted share), up from the $22.3 million ($0.54 per share) reported in the previous year. For the full 2003 fiscal year, net sales were $1.04 billion, a big 31 percent gain over the $795,0 reported in the previous fiscal year. Net income was $100.0 million ($2.31 per diluted share), up from the $71.6 million ($1.81 per diluted share) in net income from 2002. Of the revenue, 65 percent came from publishing and 35 percent from distribution, compared to 72 percent and 28 percent respectively for the previous fiscal year. North America accounted for 72 percent of the fiscal year revenue, down from the 80 percent reported last year. Platform-wise, the PlayStation 2 accounted for most of the sales with 71 percent of revenues, slightly down from the 73 percent reported in the previous year. PC came in second at 17 percent, followed by the Xbox with 6 percent. Projections for the first quarter of its 2004 fiscal year were also announced, putting net sales at $412.0 million, with diluted EPS of $1.21 to $1.10. For the full 2004 fiscal year, the company expects net sales of $1.18 billion, with diluted EPS in the range of $2.68 to $2.60. Take-Two also plans to restructure the company, closing down the Gotham Games label. Rockstar Games will focus on "premium priced, groundbreaking entertainment,” Gathering will publish "all mid-priced and non-Rockstar premium priced products," and Global Star publish games priced at $19.99 or lower. Although no big announcement were made, the publisher moved back Rockstar’s The Warriors release date to the third quarter instead of the second. It also said Manhunt would eventually be released on the Xbox and PC platforms, as well as an “extension” Grand Theft Auto franchise for the GBA.
Source: http://www.gamepro.com/

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