Take Two reports record revenue, but loses money, shares fall

[Sullla]

More interesting stuff from Gamasutra's article on Take-Two (http://www.gamasutra.com/php-bin/news_index.php?story=21536):

Feder also noted that, to drum up capital for its holiday season, the company has borrowed $71 million from a credit facility that it secured last year, and that Take-Two is "fortunate" to have lenders available given the circumstances.

Yeah... so Take-Two had to borrow another $70m just to have enough capital for this current quarter. Honestly, what the hell is wrong with this company?! Are they using hundred dollar bills as toiler paper?

Also from Gamasutra:

[UPDATE: The company's much-reduced outlook for 2009 is disappointing shareholders and analysts, with Reuters noting that Take-Two "...expects profit for the year ending in October 2009 to range between nil and 20 cents per share, significantly missing the average analysts' estimate of $1.21 per share."

First-quarter outlook was also massively reduced from analyst estimates - as a result, Take-Two shares are down almost 20% to $9.90 in after-market trading.]

So Take-Two's stock is worth even less now than when I posted a couple hours ago! It's at its lowest value in almost ten years now...