Take-Two Interactive today announced preliminary and unaudited financial results of $1.2 billion in net sales and diluted net income per share of $0.53 for its fiscal year ended October 31, 2005 and $308 million in net sales and $0.27 in diluted net income per share for its fiscal 2005 fourth quarter.
Guidance
Take-Two is revising its fiscal 2006 first quarter guidance to reflect the continued retail weakness for video game software during the holiday selling season in both North America and Europe, as well as the movement into the second quarter of Top Spin 2 for the Xbox 360 video game and entertainment system from Microsoft, Nintendo DS and Game Boy Advance and College Hoops 2K6 for the Xbox 360 to provide additional development time. The Company now expects $230 to $250 million in net sales and a net loss per share for the first quarter ending January 31, 2006.
Due to the continued uncertainties related to the retail environment and the timing and consumer acceptance of new video game hardware and software, as well as the timing of the Company's new product releases during 2006, Take-Two is not providing financial guidance for the fiscal year ending October 31, 2006, but now expects net revenue and earnings per share for fiscal 2006 to be significantly below the financial guidance previously provided by the Company and current analyst consensus estimates.
Fourth Quarter Highlights
In the fourth quarter, Rockstar released Grand Theft Auto: Liberty City Stories exclusively for the PSP (PlayStationPortable) system and The Warriors for the PlayStation2 and the Xbox video game and entertainment system from Microsoft. Grand Theft Auto: Liberty City Stories was the number one selling title for the PSP in the U.S. in October and November as estimated by NPD Funworld. Also in the fourth quarter, Rockstar released Grand Theft Auto: The Trilogy for Xbox and Grand Theft Auto: San Andreas -Special Edition for PlayStation 2.
Fourth quarter titles from 2K Games included Sid Meier's Civilization IV for PC; Shattered Union and Serious Sam II, both for Xbox and PC; Zathura for PlayStation 2 and Xbox; Call of Cthulhu: Dark Corners of the Earth for Xbox; Vietcong 2 for PC and the North American release of Conflict: Global Terror on multiple platforms. 2K Sports' fourth quarter releases included NBA 2K6, NHL 2K6, and Major League Baseball 2K5: World Series Edition, all for PlayStation 2 and Xbox; Top Spin for PlayStation 2; and World Poker Tour on multiple platforms. Global Star Software's fourth quarter releases included SPLAT Magazine Renegade Paintball for Xbox and PC; Mall Tycoon 3 for PC; and console titles for Codename: Kids Next Door and Dora the Explorer.
Fiscal 2006 Products
Fiscal 2006 first quarter releases included NBA 2K6, NHL 2K6 and Amped 3, all for the Xbox 360 from 2K Sports, with Torino 2006 for PlayStation 2, Xbox and PC planned for later in the quarter. Expected fiscal 2006 second quarter releases include The Elder Scrolls IV: Oblivion for PC and Xbox 360 from 2K Games; Top Spin 2 for the Xbox 360, Nintendo DS and Game Boy Advance, College Hoops 2K6 for Xbox 360, and Major League Baseball 2K6 for PlayStation 2, Xbox, Xbox 360, PSP, and Nintendo GameCube from 2K Sports; and Sudoku Fever for Game Boy Advance and Hummer Badlands for PlayStation 2 and Xbox from Global Star.
Additional products expected for fiscal 2006 from Rockstar Games include Grand Theft Auto: Liberty City Stories for a current generation console system, tentatively planned for release in the second quarter, Bully for PlayStation 2 and Xbox, two new titles for the PSP handheld system, including an all-new Grand Theft Auto, a title based on a new brand for the Xbox 360 and a sequel of a Rockstar brand. We also expect The Da Vinci Code, Prey, and 24: The Game from 2K Games; and various other sports titles including NBA 2K7 from 2K Sports; and Family Feud for multiple platforms from Global Star.