Take-Two Interactive Reports Q1 Fiscal 2012 Financials

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Things are going well, OK, not fantastic as they posted a lower net revenue of $334.4M and a GAAP loss of $8.6M, at Take-Two Interactive, parent of 2K Games. 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 Autofranchise, Duke Nukem Forever, the Sid Meier’s Civilization franchise, and L.A. Noire.Take-two reports small GAAP loss of 8.6M

“Looking ahead to fiscal year 2013, we have already announced three exciting new releases: BioShock Infinite, Spec Ops: The Line, and Borderlands 2, and we have a very strong pipeline of yet-to-be announced titles in development. As a result, we continue to expect to achieve substantial revenue and earnings growth, including Non-GAAP net income in excess of $2.00 per share. One might guess at those yet-to-be-announced: NBA 2K13, another L.A. Noire, probably a new Civilization, hopefully not another mediocre Duke Nukem, definitely another Carnival Games cash cow and DLC for the major titles along with XCOM, Bioshock Infinite, etc.

Business and Product Highlights

Since April 1, 2011:

  • 2K Play released the Company’s first offering for Kinect for Xbox 360, Carnival Games: Monkey See, Monkey Do™, 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 2K basketball 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 simulation game 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.
               
Take-Two’s lineup of future titles announced to date includes:              
               

Title

   

Platforms

     

Planned Release

Sid Meier’s Civilization V: Korea (DLC)

   

PC

     

August 11, 2011

Sid Meier’s Civilization V: Wonders of the Ancient World (DLC)

   

PC

     

August 11, 2011

Nicktoons MLB

   

Xbox 360 (Kinect), Wii, DS

     

September 13, 2011

Duke Nukem Forever: Hail to the Icons Parody Pack (DLC)

   

Xbox 360, PS3, PC

     

Fall 2011

L.A. Noire

   

PC

     

Fall 2011

Red Dead Redemption: Myths and Mavericks (DLC)

   

Xbox360, PS3

     

Fall 2011

NBA 2K12

   

Xbox 360, PS3, PS2, PSP, Wii, PC

     

October 4, 2011

Let’s Cheer!

   

Kinect for Xbox 360

     

Holiday Season ‘11

Nickelodeon Dance

   

Kinect for Xbox 360, Wii

     

November 2011

Dora and Kai-Lan’s Pet Shelter

   

DS

     

November 2011

Team UmiZoomi

   

DS

     

November 2011

The Darkness II

   

Xbox 360, PS3, PC

     

February 7, 2012*

XCOM

   

Xbox 360, PS3, PC

     

March 6, 2012*

BioShock Infinite

   

Xbox 360, PS3, PC

     

Calendar Year 2012

Spec Ops: The Line

   

Xbox 360, PS3, PC

     

First Half Fiscal ‘13

Borderlands 2

   

Xbox 360, PS3, PC

     

Fiscal Year 2013

 

In : PC

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