Take-Two just announced their report for Q1 (representing April 1st through June 30th, 2011) of their 2012 fiscal year (ending March 31st, 2012) and thanks to good sales from games such as L.A. Noire and MLB 2K11, they scored a pretty nice $107 million in profit. Last year for the same period, they earned $245 million and that was because of such high profile titles including Red Dead Redemption, Mafia 2, and Civilization 5. It’s less than half, sure…but still some nice coin. The company plans to make $1 billion for entire fiscal year, which means they have a goal of $900k to go for the remaining 9 months of July through March. Good luck and here’s to Grand Theft Auto V helping out! Part of the report is below.
Take-Two Interactive’s News Release:
Net Revenue was $334.4 Million
Non-GAAP Net Income Per Share was $0.02
Company Reiterates Financial Outlook for Fiscal Year 2012
NEW YORK, Aug 08, 2011 (BUSINESS WIRE) — Take-Two Interactive Software, Inc. (NASDAQ:TTWO) today reported net revenue and Non-GAAP profits for the first quarter of its fiscal year 2012, ended June 30, 2011, which were in line with its most recent financial outlook. In addition, the Company reiterated its financial outlook for the fiscal year 2012, ending March 31, 2012, and provided its initial financial outlook for the second quarter ending September 30, 2011.
For the first quarter ended June 30, 2011, net revenue was $334.4 million, as compared to $375.4 million for the year-ago period. GAAP loss from continuing operations was $8.6 million, or $0.11 per share, as compared to GAAP income from continuing operations of $27.4 million, or $0.31 per diluted share, for the year-ago period. Non-GAAP net income was $2.0 million, or $0.02 per share, as compared to Non-GAAP net income of $40.9 million, or $0.43 per diluted share, for the year-ago period.
The strongest contributors to net revenue in the first quarter included new titles led by L.A. Noire, Duke Nukem Forever(R), NBA(R) 2K11 and Carnival Games(R): Monkey See, Monkey Do(TM),and catalog titles led by the Red Dead Redemption franchise, the Grand Theft Auto franchise and Borderlands(TM). Digitally delivered content accounted for $24.6 million of net revenue, up 49% year-over-year, driven by offerings for Red Dead Redemption, Borderlands, the Grand Theft Auto franchise, Duke Nukem Forever, the Sid Meier’s Civilization franchise, and L.A. Noire.
To view the full report, please visit Take2Games.com.