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Finance

Take-Two expects net loss for 2012

Tue 17 Jan 2012 2:20pm GMT / 9:20am EST / 6:20am PST
FinancePublishing

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.

4 Comments

Harrison Smith Studying Games and Graphics Programming, Royal Melbourne Institute of Technology

75 4 0.1
If GTAV releases this year, could be the best year for Take Two, with GTAV guaranteed to sell 20+ million units.

Posted:2 years ago

#1

Elle Chen producer, Red Hot CG

2 0 0.0
Look forward to Max Payne3 and GTAV so much. Hope MP3 won't be postponed again.

Posted:2 years ago

#2

Terence Gage Freelance writer

1,288 120 0.1
"Max Payne was previously due for release in March of next year"

I think you mean this year.

A lot of folk seem to be assuming GTAV will be this November-ish, but I wouldn't be surprised if it were to slip to next April-May time - Rockstar seem to enjoy having a big release around that time of year, and I guess it depends if R*/T2 will need a big release to support their financials in the 2013-14 fiscal window.

In other R* news, I would like a Bully 2 please and some word on what's happening with Agent (even if it's just a confirmation it's been cancelled). Thanks :)

Posted:2 years ago

#3

Joe Barron Community Evangelist, Kwalee Ltd

5 0 0.0
Its a shame to see it slip a little further away, but its only gone back as far as May. Given Rockstar's aggressive marketing (there are STILL tube ads for L.A. Noire in parts of London) it will likely sell really well for them when it comes out and give them a great start to their next financial year. http://www.kwalee.com

Posted:2 years ago

#4

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