Loss Narrows at Take-Two Interactive

For the fourth quarter, Take-Two reiterated its guidance and said revenue is likely to be in the range of $275 million to $300 million, with loss in the range of 20 cents to 25 cents a share.

Analysts were expecting revenue of $287.9 million and a loss of 16 cents a share.

For fiscal year 2008, Take-Two expects revenue in the range of $1.1 billion to $1.4 billion and EPS of 80 cents to $1 a share. Analysts are expecting revenue of $1.43 billion and earnings of 88 cents a share.

For fiscal 2008, the company said its lineup includes Grand Theft Auto IV, Sid Meier's Civilization Revolution, the next in the Bully series and its sports titles, NBA 2K9 and NHL 2K9.

Take-Two also said it has created a new publishing label, 2K Play, dedicated to casual gaming. The company had partnered with Viacom's(VIA) Nickelodeon cable TV channel for an expansive handheld and console video game licensing agreement involving Nickelodeon's properties such as Nick Jr. and preschool television hits, Dora the Explorer and Go, Diego, Go!

Dora and Diego, the two top-ranked television shows for kids aged 2 to 5, will be the first games under the new 2K Play label and are expected to be released this fall in North America.

Take-Two also reaffirmed that it is on track for its sports division, 2K Sports, to be profitable next year.

>To order reprints of this article, click here: Reprints