Take-Two expects net loss for 2012
Max Payne 3 delay spells financial trouble for publisher
Take-Two Interactive has reported that it now expects a net loss for the 2012 fiscal year, following the delays to Max Payne 3.
The company is anticipating a reduction in revenue between $210 million and $230 million.
"With Max Payne 3 now slated for May, our robust line up of upcoming releases for fiscal 2013 is even stronger," said CEO Strauss Zelnick.
"Fiscal 2013 is poised to be one of our best years ever, with anticipated substantial revenue growth and Non-GAAP Net Income of over $2.00 per share. We are well positioned to deliver growth and profitability over the long term."
The company also estimates a reduction in income of $0.60 to $0.70 per non-GAAP share.
Max Payne was previously due for release in March of next year, but has now slipped to May 2012.
"We do not take changes to our release schedule lightly, and this short delay will ensure that Max Payne 3 delivers the highest quality, ground breaking entertainment experience that is expected from our company," said Zelnick.
Take-Two's third quarter financial results are due on February 2.
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