Posts Tagged ‘take-two interactive software inc.’

Take-Two third quarter did not perform as expected

Take-Two Interactive Software Inc., the developer of BioShock 2, has warned that its fourth-quarter fiscal results will be missing expectations and it particularly puts the blame on its baseball videogames.

Recently in its statement, Take2 said it likely won’t be profitable in its current fiscal year.

The New York-based developer has given a string of disappointing forecasts because the company is suffering from the broad retail weakness and also it is lacking a new release in its “Grand Theft Auto” series.

It is also seen in the recent months that rival game makers have been the source of new best-sellers, in general videogame sales.

For the third quarter Oct. 31, Take2’s earnings were excluding of write-downs and stock-compensation costs in a range of 5 cents to 10 cents a share on revenue of $325 million to $350 million. The projections issued in the month of September by Take-Two estimated off 25 cents and $24 million.

In the present quarter with holiday-shopping season the company forecasts to be losing 40 cents to 50 cents a share on revenue of $210 million to $260 million.

Take2 also informed that the company expects a loss for its new fiscal year of 40 cents to 60 cents per share.