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Take 2 reports annual loss of $185m

Take-Two has reported an annual loss of US $185 million (EUR 139) for 2006, according to the publisher's restated financial results.

Take-Two has reported an annual loss of US $185 million (EUR 139) for 2006, according to the publisher's restated financial results.

The publisher suffered a fourth quarter loss of US $14 million (EUR 10.5m), compared to profits of US $19 million (EUR 14.3m) the previous year.

The company has blamed the console transition for a drop in sales from US $1.2 billion (EUR 907m) to US $1 billion (EUR 756m).

Take-Two was also hit hard by the investigation in stock option practices, leaving it with a US $5.5 million bill.

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Matt Martin

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Matt Martin joined GamesIndustry in 2006 and was made editor of the site in 2008. With over ten years experience in journalism, he has written for multiple trade, consumer, contract and business-to-business publications in the games, retail and technology sectors.