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[Pooya]

ir.take2

Net Revenue was $334.4 Million
Non-GAAP Net Income Per Share was $0.02
Company Reiterates Financial Outlook for Fiscal Year 2012

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

Business and Product Highlights

Since April 1, 2011:


■ 2K Play released the Company's first offering for Kinect for Xbox 360(R), Carnival Games: Monkey See, Monkey Do(TM), and supported the title with downloadable content packs. The title will be featured in worldwide promotions with Microsoft this holiday season.
■ Rockstar Games released L.A. Noire on May 17, 2011 in North America and May 20, 2011 internationally. Major news outlets and video game critics across the world have applauded its ambition with great review scores stating that L.A. Noire is "a breakthrough for games as a whole" and a "stunning accomplishment" that "sets a new standard for storytelling". The title has sold-in more than 4 million units worldwide since its launch and has been supported by several downloadable content packs. The PC version of the title is scheduled to be released this fall.
■ 2K Play announced that it plans to release Nicktoons MLB on September 13, 2011. The game will feature characters from Nickelodeon's popular Nicktoons series and all 30 Major League Baseball teams.
■ 2K Sports extended its long-term partnership with the National Basketball Association to develop and publish the best-selling NBA 2Kbasketball franchise for an additional multi-year period. The latest iteration, NBA 2K11, has sold-in nearly 5.5 million units worldwide and received the highest scores in the history of the franchise (89 - Metacritic.com).
■ 2K Sports announced a new partnership with Nexon Corporation to develop and publish an online baseball simulationgame for the South Korean market.
■ 2K Games announced a partnership with XLGAMES, Inc. to develop a massively multiplayer online game for the Asian market based on one of 2K's top-selling franchises.
■ 2K Games announced that it plans to release XCOM on March 6, 2012 in North America and March 9, 2012 internationally.
■ 2K Play announced that it plans to release Let's Cheer!, Nickelodeon Dance and a new slate of Nickelodeon titles throughout the fall and holiday season.
■ 2K Games released Duke Nukem Forever on June 10, 2011 internationally and June 14, 2011 in North America. The title is being supported with downloadable content.
■ 2K Games' BioShock Infinite, developed by Irrational Games and planned for release in calendar year 2012, won 77 editorial awards, including 41 "Game of Show" awards, at E3 2011.
■ 2K Games launched the Company's first social game, Sid Meier's Civilization World, for Facebook. The title was developed by Firaxis Games.
■ 2K Sports announced that NBA 2K12 is planned for release on October 4, 2011, and will offer three separate covers for the Xbox 360 and PS3 versions featuring NBA legends Michael Jordan, Larry Bird and Magic Johnson, as well as historic teams and players that can be unlocked for in-game use.
■ 2K Games released the Sid Meier's Pirates! App for the iPad.
■ 2K Games announced that Borderlands 2, the next installment in the franchise that has sold-in over 4.5 million units worldwide, is currently in development with Gearbox Software and expected to launch in fiscal year 2013.
■ Rockstar Games' Red Dead Redemption franchise has sold-in over 11 million units worldwide since launching in May 2010, including over 2 million units of the Red Dead Redemption: Undead Nightmare standalone disc.

Shipments:
L.A. Noire: more than 4m
NBA2k11: 5.5m
RDR: 11m (including 2m UN)
Borderlands: 4.5m
Bioshock series: 8m

Release Schedule

Conference Call webcast over
-They will announce new projects later this year for next fiscal year.
-Take-Two tries to not make any middle tier titles as consumers get more selective with economy conditions, there is room for big hit titles and budget titles but not B-tier games.
- Catalog sales 11% of total revenue for the quarter.
- Duke Nukem Forever was profitable.
Other info

 

[MikeE21286]

We're never getting a new GTA then huh :\

Also, had no idea new RDR DLC was coming out.

 

[demosthenes]

RDR, AWESOME.

edit: Ouch...Wii compared to PS3/360.

 

[MaddenNFL64]

I think GTA 5 is gonna be on the next consoles. Damn you super long ass generation!

 

[NateDrake]

We're never getting a new GTA then huh :\

Also, had no idea new RDR DLC was coming out.

Should hit in September. They announced it on July 27th I think.

 

[Onion_Relish]

wow, look at that platform disparity. No wonder people aren't in a big rush to make PC ports. Also, no wonder the publishers want to keep this generation going, ps360 is making bank and owns a good majority of the core market.

 

[MikeE21286]

Should hit in September. They announced it on July 27th I think.

awesome

a well deserved 11M units there!

 

[I NEED SCISSORS]

We're never getting a new GTA then huh :\

Also, had no idea new RDR DLC was coming out.

It's just new multiplayer skins and is free, so I don't know why it's even on there as it won't get their investors any money.

 

[[Nintex]]

Max Payne: [narrating] The past is a gaping hole. You try to run from it, but the more you run, the deeper it grows behind you, its edges yawning at your heels. Your only chance is to turn around and face it. But it's like looking down into the grave of your love, or kissing the mouth of a gun, a bullet trembling in its dark nest, ready to blow your head off.

 

[MikeE21286]

It's just new multiplayer skins and is free, so I don't know why it's even on there as it won't get their investors any money.

Trying to beef up an inevitable GotY version that includes Undead and all the DLC then it looks like.

 

[Data West]

What ever happened to that composer dude saying he was working on Bully 2's OST?
And the newest screenshots of Max Payne 3 didn't look terrible.

Rockstar's so damn secretive.

 

[Luckyman]

PS2 made more revenue than Wii..

 

[fredrancour]

What ever happened to that composer dude saying he was working on Bully 2's OST?
And the newest screenshots of Max Payne 3 didn't look terrible.

Rockstar's so damn secretive.

Announcing stuff last minute is way better than announcing games 3 years before we have a hope of playing them. I'm ok with this.

 

[Nirolak]

What ever happened to that composer dude saying he was working on Bully 2's OST?
And the newest screenshots of Max Payne 3 didn't look terrible.

Rockstar's so damn secretive.

Bully 2 would normally be made by the studio leading Max Payne 3's development, so it's either on indefinite hold or canceled.

 

[snoopeasystreet]

The wii is a deadzone.

 

[inky]

And still no signs of RDR on PC... I really wonder if it isn't worth the trouble or what's the mentality there. God knows I'd double dip.

 

[SolidSnakex]

We're never getting a new GTA then huh :\

Also, had no idea new RDR DLC was coming out.

It's not going to show up on a list like this since it hasn't been announced. Borderlands 2 wasn't on their last fiscal report.

What the hell is going on with Spec Ops? They had a beta for it last year and yet it's due in the first half of fiscal 2013?

 

[MetatronM]

wow, look at that platform disparity. No wonder people aren't in a big rush to make PC ports. Also, no wonder the publishers want to keep this generation going, ps360 is making bank and owns a good majority of the core market.

Well when you only release Duke Nukem Forever and two little pieces of Civ V DLC on PC for the entire quarter, that's kind of expected.

 

[Zombie James]

Great for Borderlands and RDR, very well deserved.

 

[Pooya]

conference call started, maybe someone asks about Max Payne

 

[Nirolak]

conference call started, maybe someone asks about Max Payne

I have a hunch that it's their May title since GTA still isn't unveiled.

wow, look at that platform disparity. No wonder people aren't in a big rush to make PC ports. Also, no wonder the publishers want to keep this generation going, ps360 is making bank and owns a good majority of the core market.

Yet despite L.A. Noire and Duke Nukem Forever, they still lost money.

 

[subversus]

I have a hunch that it's their May title since GTA still isn't unveiled.

you say it like they're making it.

 

[Shalashaska161]

Would have been cool to get Duke Nukem numbers. Oh well.

 

[Phonomezer]

Holy shit @ Wii :/

 

[Nirolak]

you say it like they're making it.

A 5-7+ year development cycle (of mostly wasted content) would actually be extremely normal for Rockstar and even Take-Two in general.

This is why they constantly lose money despite selling millions upon million of copies of their games.

 

[AranhaHunter]

Where is my RDR GOTY Edition?

 

[subversus]

A 5-7+ year development cycle (of mostly wasted content) would actually be extremely normal for Rockstar and even Take-Two in general.

spring 2013 launch confirmed.

 

[Pooya]

they have some of the best announced and unannounced titles in Take-Two's history for next fiscal year.

They have many projects in dev, talking about them in coming months.

 

[Data West]

A 5-7+ year development cycle (of mostly wasted content) would actually be extremely normal for Rockstar and even Take-Two in general.

This is why they constantly lose money despite selling millions upon million of copies of their games.

I don't know if Rockstar can get away with a non-open world May title

 

[Nirolak]

they have some of the best announced and unannounced title in Take-Two's history for next fiscal year.

Oh good, I was worried they would announce "Our title line-up is worse than normal."

 

[Akia]

Holy freaking crap at the Wii 2011 revenue percentage.

 

[[Nintex]]

I think Rockstar spend less than 1% of their investments on Wii projects this generation so I'm not at all surprised that their sales for the system are at 0.

 

[Fjordson]

Awesome for RDR. More than well deserved.

I really want to know when Max Payne 3 is coming out, though. Seems to be a lock for the next release for Rockstar.

 

[Pooya]

they don't mention team Bondi anywhere in call or PR, he actually thanked R* marketing for it's success lol.

 

[Akia]

I think Rockstar spend less than 1% of their investments on Wii projects this generation so I'm not at all surprised that their sales for the system are at 0.

The percentages are for Take Two as a whole and not just for Rockstar.

0% is freaking abysmal. What happened to the Carnival Games cash cow?

 

[Mr_Brit]

I think Rockstar spend less than 1% of their investments on Wii projects this generation so I'm not at all surprised that their sales for the system are at 0.

Does 0% mean they didn't ship any Wii games?

 

[Pooya]

Bioshock series: 8m. (old number)

 

[ThisWreckage]

I don't understand how they have an 8.6 million dollar loss when they have so many successful franchises. This industry is screwed.

 

[DarkChild]

*cmon cmon...mention GTA V...cmon cmon*

 

[[Nintex]]

I don't understand how they have an 8.6 million dollar loss when they have so many successful franchises. This industry is screwed.

If you read the development stories of most of their games it's not that crazy or unthinkable that they lose money.

What happened to the Carnival Games cash cow?

Luckily for Wii owners it's better with Kinect.

 

[Stumpokapow]

I think Rockstar spend less than 1% of their investments on Wii projects this generation so I'm not at all surprised that their sales for the system are at 0.

They put a huge multi-million selling new IP on Wii this generation. But the sequel didn't do as well, so they put it out on 360. *shrugs*

 

[Jin34]

They put a huge multi-million selling new IP on Wii this generation. But the sequel didn't do as well, so they put it out on 360. *shrugs*

LOL, this industry is so funny.

 

[StevieP]

They put a huge multi-million selling new IP on Wii this generation. But the sequel didn't do as well, so they put it out on 360. *shrugs*

When you get burned by the first turd known as Carnival Games, you don't buy the second.

I don't understand how they have an 8.6 million dollar loss when they have so many successful franchises. This industry is screwed.

Welcome to the HD generation. Enjoy your stay.

 

[Nirolak]

The percentages are for Take Two as a whole and not just for Rockstar.

It's freaking abysmal. What happened to the Carnival Games cash cow?

It collapsed a couple of years ago.

Take-Two as a whole has no diversification though. They just put out tons and tons of (sometimes $50-$100+ million budget) HD console games that get PC versions about half the time.

When one of those doesn't sell 3-8+ million copies, they end up losing money, and sometimes they even lose money when most of their titles do.

Due to having these hits though, they're able to get constant financing from people hoping the company will turn around.

 

[SpecX]

I'm happy for RDR. One of the few games this gen I can say I'm glad I paid full price for.

 

[Stumpokapow]

When you get burned by the first turd known as Carnival Games, you don't buy the second.

Absolutely agreed. It wasn't good, even as a casual minigame pack.

 

[Takao]

Does 0% mean they didn't ship any Wii games?

I don't think they shipped any new PSP or PS2 games last quarter and both are above Wii, lol.

 

[inky]

There's no way GTA V even gets a mention when they have Borderlands 2 and Bioshock Infinte for FY 13.

I know it's been explained before but it baffles me that T2 releases such massive games and still makes very little profit if any at all.

 

[demosthenes]

As an accountant, I've wondered for a while if video game companies all talk about non-gaap accounting numbers b/c thy're simply better or if they feel the accounting for the industry is just poor.

 

[Nappuccino]

wow, look at that platform disparity. No wonder people aren't in a big rush to make PC ports. Also, no wonder the publishers want to keep this generation going, ps360 is making bank and owns a good majority of the core market.

Maybe if they would stop making terrible ports of games and release them months after everyone has already played them on consoles, they'd sell more pc games.