Take Two reports Q2 loss, signs new Sega deal

Dom · Jun 9, 2004, 10:31 PM

Publisher Take Two Interactive has announced that it made a significant loss in the second quarter, and dropped fiscal guidance for the rest of the year - although a new deal to co-publish Sega's sports range could bring the figures up once more.

The company reported a loss of $14.6 million on sales of $153.4 million for the quarter, which ran through to April 30th, reversing a profit in the same quarter last year of $14.6 million on sales of $193 million.

The larger sales figure last year was mostly accounted for by the continuing strong sales of Grand Theft Auto: Vice City on the PS2, as well as the launch of Midnight Club 2; by contrast, Take Two's line up for the first half of the year in 2004 has been fairly underwhelming.

The company also revised its financial guidance for the full year downwards, with net sales of between $1.125 billion and $1.145 billion now expected, as opposed to the previous projection of $1.17 billion; this due to a number of release schedule changes and lowered projections for sales of certain products, although the company's key forthcoming release, Grand Theft Auto: San Andreas, remains on track to be launched at the end of October.

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Source: GameIndustry

Jun 9, 2004, 10:31 PM	#1
Dom DriverHeaven Extreme Member Join Date: Jun 2002 Posts: 12,940 Rep Power: 0	Take Two reports Q2 loss, signs new Sega deal Publisher Take Two Interactive has announced that it made a significant loss in the second quarter, and dropped fiscal guidance for the rest of the year - although a new deal to co-publish Sega's sports range could bring the figures up once more. The company reported a loss of $14.6 million on sales of $153.4 million for the quarter, which ran through to April 30th, reversing a profit in the same quarter last year of $14.6 million on sales of $193 million. The larger sales figure last year was mostly accounted for by the continuing strong sales of Grand Theft Auto: Vice City on the PS2, as well as the launch of Midnight Club 2; by contrast, Take Two's line up for the first half of the year in 2004 has been fairly underwhelming. The company also revised its financial guidance for the full year downwards, with net sales of between $1.125 billion and $1.145 billion now expected, as opposed to the previous projection of $1.17 billion; this due to a number of release schedule changes and lowered projections for sales of certain products, although the company's key forthcoming release, Grand Theft Auto: San Andreas, remains on track to be launched at the end of October. Read More... _________________________ Source: GameIndustry