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Take-Two Interactive Software Management Discusses Q1 2013 Results - Earnings Call Transcript

Some of our recent achievements include the following. We entered open beta for NBA 2K Online, our free-to-play MMO game, on the Tencent Games portal in China. Early user metrics for the game are encouraging. We released our first mobile social game for Japan, NBA 2K All Stars, on GREE's social networking platform and announced our partnership to offer additional mobile social games in select global markets, including Pirates! Legends and Civilization. We expanded our lineup of core mobile titles with the release of Max Payne mobile for iOS and Android devices, and we announced the new slate of casual mobile games from our 2K Play division, including our recently released COMEDY CENTRAL'S Indecision Game, which is our first mobile social offering for the U.S. Karl will talk about our online and mobile strategy in more detail later in the call.

We continue to find ways to streamline our operations and enhance efficiency. Earlier this month, Rockstar Games announced that it's expanding its development capabilities in Toronto due in part to financial support and tax incentives that were provided by the Ontario government. In conjunction with that expansion, Rockstar is combining its Vancouver and Toronto development teams in a new facility. Bringing these 2 groups together should make for a powerful creative team on future projects.

Despite our disappointing results for the first quarter, we continue to expect fiscal 2013 to be one of the best years in Take-Two's history. Consumer enthusiasm suggests strong demand for our extraordinary lineup of upcoming releases, particularly Borderlands 2, NBA 2K13 and BioShock Infinite. Karl will have more to share about our upcoming releases shortly.

Read the rest of this transcript for free on seekingalpha.com

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